Achieve Life Sciences (NASDAQ:ACHV) Now Covered by Citizens Jmp

Citizens Jmp began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm issued a market outperform rating and a $19.00 target price on the biopharmaceutical company’s stock.

A number of other research firms have also commented on ACHV. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday. Citigroup started coverage on shares of Achieve Life Sciences in a research report on Tuesday. They set an “outperform” rating on the stock. HC Wainwright initiated coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They issued a “buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, November 17th. One research analyst has 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, Achieve Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Achieve Life Sciences Trading Up 15.6%

Shares of NASDAQ:ACHV opened at $4.59 on Tuesday. Achieve Life Sciences has a 52-week low of $1.84 and a 52-week high of $5.78. 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 company has a market cap of $244.34 million, a P/E ratio of -3.14 and a beta of 1.62. The stock’s 50-day moving average is $3.98 and its 200-day moving average is $3.29.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Equities research analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In other Achieve Life Sciences news, CFO Mark K. Oki sold 50,060 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $2.92, for a total value of $146,175.20. Following the transaction, the chief financial officer owned 127,940 shares in the company, valued at approximately $373,584.80. This represents a 28.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Alistair Stewart sold 129,501 shares of Achieve Life Sciences stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $2.92, for a total transaction of $378,142.92. Following the completion of the sale, the chief executive officer directly owned 228,875 shares of the company’s stock, valued at approximately $668,315. The trade was a 36.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 381,972 shares of company stock worth $1,084,997 over the last three months. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in Achieve Life Sciences during the first quarter worth about $99,000. Invesco Ltd. raised its stake in shares of Achieve Life Sciences by 338.7% during the first quarter. Invesco Ltd. now owns 73,644 shares of the biopharmaceutical company’s stock worth $197,000 after acquiring an additional 56,856 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Achieve Life Sciences in the 1st quarter valued at $125,000. Nantahala Capital Management LLC grew its holdings in shares of Achieve Life Sciences by 37.4% during the 1st quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock valued at $2,400,000 after purchasing an additional 244,885 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in Achieve Life Sciences by 227.7% in the first quarter. ADAR1 Capital Management LLC now owns 43,173 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 30,000 shares during the last quarter. 33.52% of the stock is owned by hedge funds and other institutional investors.

Achieve Life Sciences Company Profile

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.