Jupiter Topco LLC Acquires Shares of 2,751,032 Achieve Life Sciences, Inc. $ACHV

Jupiter Topco LLC acquired a new position in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,751,032 shares of the biopharmaceutical company’s stock, valued at approximately $17,964,000. Jupiter Topco LLC owned approximately 2.67% of Achieve Life Sciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ACHV. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at about $32,000. Qube Research & Technologies Ltd acquired a new position in Achieve Life Sciences during the 2nd quarter worth approximately $232,000. Raymond James Financial Inc. boosted its holdings in Achieve Life Sciences by 57.1% in the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock worth $667,000 after acquiring an additional 107,218 shares during the period. Jane Street Group LLC purchased a new position in Achieve Life Sciences in the 2nd quarter worth approximately $159,000. Finally, Bank of America Corp DE grew 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 in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Wednesday, August 19th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $18.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Morgan Stanley initiated coverage on shares of Achieve Life Sciences in a report on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.00.

Insiders Place Their Bets

In other news, Director Richard Alistair Stewart sold 20,626 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the sale, the director owned 208,249 shares of the company’s stock, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Achieve Life Sciences Stock Performance

Achieve Life Sciences stock opened at $8.10 on Friday. Achieve Life Sciences, Inc. has a 52 week low of $2.62 and a 52 week high of $8.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. The stock has a market cap of $833.49 million, a P/E ratio of -5.23 and a beta of 2.24. The stock has a 50 day moving average of $6.64 and a 200-day moving average of $5.19.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). On average, analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

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.