Jonestrading Initiates Coverage on Achieve Life Sciences (NASDAQ:ACHV)

Analysts at Jonestrading began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) in a research note issued on Wednesday, Benzinga reports. The brokerage set a "buy" rating and a $20.00 price target on the biopharmaceutical company's stock. Jonestrading's price target points to a potential upside of 337.64% from the company's previous close.

Several other brokerages also recently issued reports on ACHV. Lake Street Capital lowered their price objective on shares of Achieve Life Sciences from $19.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, March 5th. Oppenheimer reaffirmed an "outperform" rating and set a $18.00 price target on shares of Achieve Life Sciences in a report on Monday, April 1st.

Achieve Life Sciences Stock Up 4.3 %

Shares of NASDAQ:ACHV traded up $0.19 during midday trading on Wednesday, hitting $4.57. 53,105 shares of the company's stock traded hands, compared to its average volume of 89,054. The firm's fifty day moving average price is $4.42 and its two-hundred day moving average price is $4.40. The company has a market cap of $156.52 million, a PE ratio of -2.99 and a beta of 1.32. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $10.30. The company has a debt-to-equity ratio of 4.02, a quick ratio of 0.82 and a current ratio of 0.82.

Hedge Funds Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Achieve Life Sciences by 75.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 1,570 shares during the last quarter. HRT Financial LP bought a new stake in Achieve Life Sciences during the fourth quarter valued at $32,000. Morgan Stanley raised its holdings in shares of Achieve Life Sciences by 437.4% during the fourth quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 11,026 shares during the period. Madison Park Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth $41,000. Finally, Prelude Capital Management LLC bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth about $49,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.