Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 8.1% – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares were up 8.1% during mid-day trading on Monday . The company traded as high as $5.20 and last traded at $5.2450. 424,141 shares traded hands during trading, a decline of 62% from the average daily volume of 1,114,316 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group set a $13.00 price objective on shares of Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Monday. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Stock Performance

The firm’s fifty day moving average price is $4.81 and its 200 day moving average price is $4.55. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $527.16 million, a PE ratio of -4.57 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. On average, research analysts anticipate that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

Institutional Trading of Achieve Life Sciences

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Achieve Life Sciences by 18,747.4% in the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock valued at $21,715,000 after purchasing an additional 4,346,011 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences during the 2nd quarter worth about $2,652,000. Millennium Management LLC grew its stake in shares of Achieve Life Sciences by 472.3% in the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock valued at $6,755,000 after purchasing 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 $1,581,000. Finally, KVP Capital Advisors LP bought a new position in Achieve Life Sciences during the 4th quarter valued at about $2,298,000. 33.52% of the stock is owned by institutional investors.

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.