Achieve Life Sciences (NASDAQ:ACHV) Coverage Initiated by Analysts at Jonestrading

Jonestrading began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note released on Wednesday morning, Benzinga reports. The brokerage issued a buy rating and a $20.00 price target on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Oppenheimer reaffirmed an outperform rating and set a $18.00 price objective on shares of Achieve Life Sciences in a report on Monday, April 1st. Lake Street Capital cut their target price on shares of Achieve Life Sciences from $19.00 to $11.00 and set a buy rating for the company in a research report on Tuesday, March 5th.

Achieve Life Sciences Stock Performance

Shares of NASDAQ ACHV opened at $4.51 on Wednesday. Achieve Life Sciences has a 52 week low of $3.03 and a 52 week high of $10.30. The company has a debt-to-equity ratio of 4.02, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50-day simple moving average is $4.42 and its 200-day simple moving average is $4.40. The firm has a market cap of $154.47 million, a price-to-earnings ratio of -2.95 and a beta of 1.32.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in shares of Achieve Life Sciences by 75.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 1,570 shares during the last quarter. HRT Financial LP bought a new stake in Achieve Life Sciences in the 4th quarter valued at $32,000. Morgan Stanley boosted its holdings in Achieve Life Sciences by 437.4% in the 4th quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 11,026 shares during the period. Madison Park Capital Advisors LLC acquired a new stake in Achieve Life Sciences in the 4th quarter worth $41,000. Finally, Prelude Capital Management LLC bought a new position in shares of Achieve Life Sciences during the 2nd quarter worth about $49,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.