Achieve Life Sciences (NASDAQ:ACHV) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $14.67.

Achieve Life Sciences Price Performance

Shares of ACHV opened at $4.23 on Monday. Achieve Life Sciences has a 1-year low of $2.00 and a 1-year high of $6.03. The stock has a market cap of $225.16 million, a PE ratio of -3.25 and a beta of 1.96. 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 firm has a fifty day moving average price of $3.93 and a 200 day moving average price of $4.37.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). As a group, sell-side analysts anticipate that Achieve Life Sciences will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Achieve Life Sciences by 18,747.4% during the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after buying an additional 4,346,011 shares during the period. Hudson Bay Capital Management LP acquired a new position in Achieve Life Sciences during the second quarter worth about $2,652,000. Millennium Management LLC grew its position in Achieve Life Sciences by 472.3% during the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after buying an additional 1,121,614 shares during the period. Pathstone Holdings LLC acquired a new position in Achieve Life Sciences during the third quarter worth about $1,581,000. Finally, KVP Capital Advisors LP acquired a new position in Achieve Life Sciences during the fourth quarter worth about $2,298,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.