Achieve Life Sciences (NASDAQ:ACHV) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Achieve Life Sciences (NASDAQ:ACHV) from a hold rating to a strong sell rating in a report published on Saturday morning.

A number of other equities analysts have also 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. Morgan Stanley initiated coverage on Achieve Life Sciences in a research note on Thursday. They set an “overweight” rating and a $13.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a report on Wednesday. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday. Finally, Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the company a “buy” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Achieve Life Sciences currently has a consensus rating of “Buy” and a consensus target price of $15.00.

Achieve Life Sciences Stock Up 4.7%

ACHV opened at $7.59 on Friday. The company has a 50 day moving average of $6.12 and a 200 day moving average of $4.93. The company has a market cap of $781.01 million, a PE ratio of -4.90 and a beta of 2.24. Achieve Life Sciences has a 12 month low of $2.46 and a 12 month high of $7.60. The company has a current ratio of 0.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). On average, sell-side analysts expect that Achieve Life Sciences will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACHV. AQR Capital Management LLC bought a new position in shares of Achieve Life Sciences in the first quarter worth $32,000. Qube Research & Technologies Ltd purchased a new stake in shares of Achieve Life Sciences in the second quarter worth $232,000. Raymond James Financial Inc. boosted its stake in Achieve Life Sciences by 57.1% during the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after buying an additional 107,218 shares during the period. Jane Street Group LLC bought a new stake in Achieve Life Sciences during the second quarter valued at $159,000. Finally, Bank of America Corp DE grew its position in 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 buying an additional 9,617 shares in the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.