Achieve Life Sciences (NASDAQ:ACHV) Stock Falls 6% - Should You Sell?

Key Points

• Achieve Life Sciences shares fell 6% to about $6.55, with trading volume roughly 86% below the average session volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $15.50, despite one sell rating.
• The company reported a quarterly EPS loss of $0.80, missing estimates by $0.64, while an insider recently sold 20,626 shares and institutional investors own 33.52% of the stock.

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) were down 6% on Friday. The stock traded as low as $6.62 and last traded at $6.5540. Approximately 192,355 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,351,565 shares. The stock had previously closed at $6.97.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ACHV shares. Stifel Nicolaus set a $18.00 target price on Achieve Life Sciences and gave the company a "buy" rating in a research note on Tuesday, September 29th. Raymond James Financial reissued a "strong-buy" rating and set a $18.00 price objective on shares of Achieve Life Sciences in a report on Wednesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Morgan Stanley started coverage on Achieve Life Sciences in a research report on Thursday, August 13th. They issued an "overweight" rating and a $13.00 price objective for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Achieve Life Sciences presently has a consensus rating of "Buy" and a consensus price target of $15.50.

Achieve Life Sciences Price Performance

The company has a market cap of $644.67 million, a price-to-earnings ratio of -4.05 and a beta of 2.30. The stock has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $6.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). On average, equities research analysts predict that Achieve Life Sciences, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Achieve Life Sciences

In other news, Director Richard Stewart sold 20,626 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the sale, the director directly owned 208,249 shares in the company, valued at approximately $1,768,034.01. This trade represents a 9.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Institutional Trading of Achieve Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in Achieve Life Sciences during the second quarter worth approximately $49,000. SLT Holdings LLC acquired a new stake in shares of Achieve Life Sciences in the 3rd quarter worth $89,000. Magnolia Capital Advisors LLC acquired a new stake in Achieve Life Sciences in the second quarter valued at about $99,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at approximately $135,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Achieve Life Sciences in the second quarter worth $163,000. Institutional investors and hedge funds own 33.52% of the company's stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc is a biopharmaceutical company focused on developing and commercializing cytisinicline, a plant-based investigational therapy intended to help adults quit smoking and address nicotine addiction. Cytisinicline is designed to act on nicotinic acetylcholine receptors in the brain, potentially reducing nicotine cravings and withdrawal symptoms while helping limit the satisfaction associated with smoking.

The company's primary development program is aimed at securing regulatory approval for cytisinicline in the United States.

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