Achieve Life Sciences (NASDAQ:ACHV) Research Coverage Started at HC Wainwright

HC Wainwright initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the biopharmaceutical company’s stock.

Achieve Life Sciences Trading Up 1.0%

Shares of Achieve Life Sciences stock opened at $2.92 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.64 and a quick ratio of 6.64. The firm has a fifty day moving average price of $2.69 and a 200 day moving average price of $2.80. Achieve Life Sciences has a 1 year low of $1.84 and a 1 year high of $5.31. The stock has a market cap of $149.21 million, a PE ratio of -2.00 and a beta of 1.30.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). Equities research analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACHV. Tower Research Capital LLC TRC increased its holdings in Achieve Life Sciences by 185.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 4,905 shares in the last quarter. AQR Capital Management LLC purchased a new position in Achieve Life Sciences in the first quarter valued at $32,000. Sender Co & Partners Inc. purchased a new position in Achieve Life Sciences in the second quarter valued at $56,000. Squarepoint Ops LLC purchased a new position in Achieve Life Sciences in the fourth quarter valued at $62,000. Finally, Bank of America Corp DE increased its holdings 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 buying an additional 9,617 shares in the last quarter. Hedge funds and other institutional investors 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. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.