Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have received an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.00.

ACHV has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 19th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Morgan Stanley assumed coverage on shares of Achieve Life Sciences in a research report on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $18.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday, August 12th.

Achieve Life Sciences Trading Up 1.2%

Shares of Achieve Life Sciences stock opened at $8.27 on Thursday. The company has a 50-day moving average of $6.51 and a two-hundred day moving average of $5.14. Achieve Life Sciences has a 12-month low of $2.62 and a 12-month 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 $850.98 million, a PE ratio of -5.34 and a beta of 2.24.

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

Insider Buying and Selling at Achieve Life Sciences

In other news, Director Richard Alistair Stewart sold 20,626 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the transaction, the director directly owned 208,249 shares of the company’s stock, valued at $1,768,034.01. This trade represents a 9.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the first quarter valued at $32,000. California State Teachers Retirement System purchased a new position in Achieve Life Sciences in the 2nd quarter valued at about $46,000. Legal & General Group Plc purchased a new position in Achieve Life Sciences in the 2nd quarter valued at about $49,000. Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $56,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.