Achieve Life Sciences (NASDAQ:ACHV) Coverage Initiated at Raymond James Financial

Research analysts at Raymond James Financial initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note issued to investors on Friday. The brokerage set a “strong-buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Raymond James Financial’s price target would indicate a potential upside of 240.72% from the company’s current price.

A number of other analysts have also commented on the company. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a report on Monday. Finally, Canaccord Genuity Group set a $13.00 price objective on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $16.00.

Achieve Life Sciences Trading Up 3.0%

ACHV traded up $0.17 during trading on Friday, reaching $5.87. 143,819 shares of the company’s stock were exchanged, compared to its average volume of 1,166,201. The company’s fifty day moving average price is $4.95 and its 200-day moving average price is $4.57. The firm has a market capitalization of $602.61 million, a PE ratio of -5.26 and a beta of 2.27. Achieve Life Sciences has a fifty-two week low of $2.00 and a fifty-two week high of $6.16. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.11. As a group, equities analysts forecast that Achieve Life Sciences will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Achieve Life Sciences during the first quarter worth approximately $32,000. Qube Research & Technologies Ltd acquired a new position in Achieve Life Sciences in the 2nd quarter valued at $232,000. Raymond James Financial Inc. lifted its position in shares of Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after acquiring an additional 107,218 shares during the period. Jane Street Group LLC bought a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $159,000. Finally, Bank of America Corp DE grew its holdings in shares of Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 9,617 shares in the last quarter. 33.52% of the stock is 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.