Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 6.5% – Here’s Why

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) were up 6.5% on Friday . The company traded as high as $6.33 and last traded at $6.35. 209,257 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,329,049 shares. The stock had previously closed at $5.96.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACHV. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Monday, June 22nd. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd. Finally, Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the company a “buy” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Achieve Life Sciences presently has an average rating of “Buy” and a consensus target price of $16.00.

Achieve Life Sciences Stock Performance

The company has a market cap of $639.57 million, a price-to-earnings ratio of -5.56 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. The company has a fifty day moving average of $5.53 and a two-hundred day moving average of $4.76.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. Equities research analysts anticipate that Achieve Life Sciences, Inc. will post -0.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Achieve Life Sciences in the 1st quarter valued at approximately $32,000. Sender Co & Partners Inc. bought a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $56,000. Magnolia Capital Advisors LLC acquired a new position in Achieve Life Sciences in the 4th quarter valued at approximately $64,000. Bank of America Corp DE increased its position in Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 9,617 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of Achieve Life Sciences during the fourth quarter valued at $84,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.