Weiss Ratings Reaffirms “Sell (D-)” Rating for Achieve Life Sciences (NASDAQ:ACHV)

Achieve Life Sciences (NASDAQ:ACHV)‘s stock had its “sell (d-)” rating reiterated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, HC Wainwright initiated coverage on Achieve Life Sciences in a research report on Thursday, August 21st. They issued a “buy” rating and a $12.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Achieve Life Sciences has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Achieve Life Sciences Stock Down 4.9%

ACHV stock opened at $3.28 on Wednesday. The firm has a market cap of $167.61 million, a PE ratio of -2.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64. The firm’s 50 day moving average price is $2.92 and its 200-day moving average price is $2.80. Achieve Life Sciences has a one year low of $1.84 and a one year high of $5.31.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, equities research analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark K. Oki sold 50,060 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $2.92, for a total transaction of $146,175.20. Following the completion of the transaction, the chief financial officer owned 127,940 shares in the company, valued at approximately $373,584.80. The trade was a 28.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jaime Xinos sold 20,854 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $57,765.58. Following the transaction, the insider owned 74,432 shares of the company’s stock, valued at approximately $206,176.64. The trade was a 21.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 381,972 shares of company stock valued at $1,084,997. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of ACHV. AQR Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the first quarter worth $32,000. Sender Co & Partners Inc. purchased a new stake in Achieve Life Sciences in the second quarter valued at $56,000. Squarepoint Ops LLC purchased a new stake in Achieve Life Sciences in the fourth quarter valued at $62,000. Bank of America Corp DE lifted its position 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. Finally, XTX Topco Ltd purchased a new stake in Achieve Life Sciences in the first quarter valued at $99,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.