Achieve Life Sciences (NASDAQ:ACHV) Receives New Coverage from Analysts at Jonestrading

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

ACHV has been the subject of several other research reports. Lake Street Capital decreased their price objective on Achieve Life Sciences from $19.00 to $11.00 and set a buy rating for the company in a research note on Tuesday, March 5th. Oppenheimer restated an outperform rating and set a $18.00 target price on shares of Achieve Life Sciences in a research note on Monday, April 1st.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $4.57 on Wednesday. The business has a 50-day moving average of $4.42 and a 200 day moving average of $4.40. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $10.30. The stock has a market capitalization of $156.53 million, a price-to-earnings ratio of -2.99 and a beta of 1.32. The company has a debt-to-equity ratio of 4.02, a current ratio of 0.82 and a quick ratio of 0.82.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings 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 valued at $25,000 after purchasing an additional 1,570 shares during the period. HRT Financial LP purchased a new stake in shares of Achieve Life Sciences in the fourth quarter valued at approximately $32,000. Morgan Stanley boosted its stake in shares of Achieve Life Sciences by 437.4% in the fourth quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 11,026 shares in the last quarter. Madison Park Capital Advisors LLC purchased a new stake in shares of Achieve Life Sciences in the fourth quarter valued at approximately $41,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Achieve Life Sciences in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.