Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.50.

Several equities research analysts recently commented on ACHV shares. Citigroup assumed coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Monday, December 29th. Citizens Jmp began coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 price target on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a report on Monday, November 24th.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. Franklin Resources Inc. raised its position in Achieve Life Sciences by 81.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after purchasing an additional 2,000,079 shares during the period. Simplify Asset Management Inc. boosted its position in shares of Achieve Life Sciences by 443.7% during the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after buying an additional 966,667 shares during the period. Stonepine Capital Management LLC bought a new position in shares of Achieve Life Sciences during the second quarter valued at approximately $753,000. Highbridge Capital Management LLC bought a new position in shares of Achieve Life Sciences during the second quarter valued at approximately $300,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Achieve Life Sciences in the second quarter worth approximately $263,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

Achieve Life Sciences Stock Down 2.5%

Shares of NASDAQ:ACHV opened at $5.52 on Wednesday. The stock’s 50-day moving average is $4.67 and its 200 day moving average is $3.66. The company has a market cap of $293.83 million, a PE ratio of -4.00 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.14 and a quick ratio of 5.14. Achieve Life Sciences has a 1 year low of $1.84 and a 1 year high of $5.78.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Sell-side analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current year.

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.