Achieve Life Sciences (NASDAQ:ACHV) Sets New 52-Week High – Still a Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s share price hit a new 52-week high on Thursday . The stock traded as high as $6.15 and last traded at $6.0750, with a volume of 807930 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

ACHV has been the topic of several research analyst reports. Canaccord Genuity Group set a $13.00 price objective on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. HC Wainwright reissued a “buy” rating and set a $12.00 price target 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 report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Achieve Life Sciences presently has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Trading Down 0.5%

The company’s fifty day simple moving average is $4.51 and its two-hundred day simple moving average is $4.51. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $587.11 million, a price-to-earnings ratio of -5.09 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.11. Research analysts forecast that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Achieve Life Sciences in the first quarter worth $32,000. Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences during the second quarter worth $56,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the third quarter worth $63,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth $64,000. Finally, Bank of America Corp DE raised its holdings in shares of Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 9,617 shares during the period. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.