Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 7.8% – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $7.02 and last traded at $7.04. Approximately 524,709 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 1,276,113 shares. The stock had previously closed at $6.53.

Wall Street Analyst Weigh In

Several brokerages recently commented on ACHV. Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the company a “buy” rating in a research report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a report on Monday, June 22nd. Raymond James Financial began coverage on Achieve Life Sciences in a research note on Friday, June 26th. They issued a “strong-buy” rating and a $20.00 price target on the stock. Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.00.

Achieve Life Sciences Stock Performance

The business has a 50 day moving average of $5.14 and a two-hundred day moving average of $4.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. The firm has a market capitalization of $657.02 million, a price-to-earnings ratio of -5.71 and a beta of 2.21.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.11. Equities analysts predict that Achieve Life Sciences, Inc. will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. 683 Capital Management LLC purchased a new position in Achieve Life Sciences during the 4th quarter worth $1,068,000. Qube Research & Technologies Ltd bought a new stake in shares of Achieve Life Sciences in the 2nd quarter worth $232,000. Graham Capital Management L.P. purchased a new stake in shares of Achieve Life Sciences in the fourth quarter valued at about $212,000. Dimensional Fund Advisors LP purchased a new stake in shares of Achieve Life Sciences in the third quarter valued at about $165,000. Finally, Bank of America Corp DE lifted its position in shares of Achieve Life Sciences by 40.6% during the third quarter. Bank of America Corp DE now owns 47,409 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 13,678 shares in the last quarter. 33.52% of the stock is owned by hedge funds and other 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.