Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 5.2% - Time to Buy?

Key Points

• ACHV shares rose 5.2% to $8.355 during Tuesday trading, although volume was 47% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $15.00; targets ranged from $12 to $18 despite one “strong sell” downgrade.
• The company recently reported an adjusted loss of $0.80 per share, substantially missing the $0.16 consensus estimate, while an insider sold 20,626 shares at an average price of $8.49.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report)'s share price was up 5.2% during trading on Tuesday . The company traded as high as $8.38 and last traded at $8.3550. Approximately 693,049 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,314,140 shares. The stock had previously closed at $7.94.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a report on Saturday, August 15th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 price target on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Morgan Stanley assumed coverage on shares of Achieve Life Sciences in a report on Thursday, August 13th. They set an "overweight" rating and a $13.00 price objective on the stock. UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $15.00.

Achieve Life Sciences Price Performance

The company has a 50 day moving average price of $6.70 and a 200 day moving average price of $5.22. The company has a market capitalization of $849.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). As a group, equities research analysts forecast that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Achieve Life Sciences news, Director Richard Alistair Stewart sold 20,626 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the sale, the director directly owned 208,249 shares of the company's stock, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACHV. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the 1st quarter worth approximately $32,000. Qube Research & Technologies Ltd acquired a new position in Achieve Life Sciences in the second quarter valued at approximately $232,000. Raymond James Financial Inc. lifted its holdings in Achieve Life Sciences by 57.1% in the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company's stock valued at $667,000 after buying an additional 107,218 shares during the period. Jane Street Group LLC bought a new position in Achieve Life Sciences in the second quarter valued at approximately $159,000. Finally, Bank of America Corp DE boosted its stake in Achieve Life Sciences by 39.9% in the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 9,617 shares during the last quarter. Institutional investors own 33.52% of the company's stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc NASDAQ: ACHV is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.

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