Wall Street Zen Upgrades Achieve Life Sciences (NASDAQ:ACHV) to Sell

Key Points

• Wall Street Zen upgraded Achieve Life Sciences from "strong sell" to "sell", adding to a mixed analyst picture that still leans bullish overall.
• Other firms recently maintained or issued positive views, including HC Wainwright and Canaccord Genuity with buy ratings and price targets of $12 and $13; the consensus analyst rating remains Buy with an average target of $14.67.
• The stock rose 8.8% and opened at $5.21, while the company reported a quarterly loss of $0.28 per share, slightly worse than expected, for the latest earnings period.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

Several other research firms also recently weighed in on ACHV. HC Wainwright reiterated a "buy" rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Weiss Ratings upgraded Achieve Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the company a "buy" rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $14.67.

Achieve Life Sciences Stock Up 8.8%

Shares of ACHV stock opened at $5.21 on Friday. Achieve Life Sciences has a 1-year low of $2.00 and a 1-year high of $6.03. The stock's fifty day moving average price is $3.95 and its 200 day moving average price is $4.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.39 and a quick ratio of 4.39. The company has a market cap of $277.33 million, a price-to-earnings ratio of -4.01 and a beta of 2.25.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last announced its earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, research analysts expect that Achieve Life Sciences will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in Achieve Life Sciences during the 1st quarter valued at about $32,000. Magnolia Capital Advisors LLC purchased a new stake in shares of Achieve Life Sciences in the fourth quarter worth about $64,000. Next Capital Management LLC purchased a new stake in shares of Achieve Life Sciences in the third quarter worth about $51,000. Jefferies Financial Group Inc. purchased a new stake in shares of Achieve Life Sciences in the fourth quarter worth about $84,000. Finally, HRT Financial LP purchased a new stake in shares of Achieve Life Sciences in the fourth quarter worth about $93,000. Hedge funds and other institutional investors own 33.52% of the company's stock.

Achieve Life Sciences Company Profile

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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