Achieve Life Sciences (NASDAQ:ACHV) Hits New 52-Week High – Time to Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.15 and last traded at $6.0750, with a volume of 807930 shares trading hands. The stock had previously closed at $5.75.

Analysts Set New Price Targets

ACHV has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the company a “buy” rating in a research note 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 research note on Thursday, April 16th. Finally, Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three 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 an average price target of $14.67.

Achieve Life Sciences Price Performance

The stock’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $4.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. The stock has a market capitalization of $566.68 million, a price-to-earnings ratio of -4.93 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. On average, analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter worth $32,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences in the fourth quarter worth $64,000. Jefferies Financial Group Inc. acquired a new stake in shares of Achieve Life Sciences in the fourth quarter worth $84,000. HRT Financial LP acquired a new stake in shares of Achieve Life Sciences in the fourth quarter worth $93,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter worth $63,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.