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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $7.60 and last traded at $7.52, with a volume of 1063131 shares. The stock had previously closed at $7.50.

Analyst Ratings Changes

ACHV has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 price target on shares of Achieve Life Sciences in a report on Wednesday, August 12th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Achieve Life Sciences presently has a consensus rating of “Buy” and a consensus target price of $15.00.

Achieve Life Sciences Stock Performance

The company has a market cap of $825.26 million, a P/E ratio of -5.17 and a beta of 2.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $6.31 and a 200-day moving average price of $5.03.

Achieve Life Sciences (NASDAQ:ACHV) last issued 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). Equities analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in ACHV. venBio Partners LLC bought a new position in shares of Achieve Life Sciences in the second quarter valued at approximately $38,623,122,000. BlackRock Inc. acquired a new stake in Achieve Life Sciences in the second quarter worth approximately $34,426,000. Franklin Resources Inc. lifted its position in Achieve Life Sciences by 18,747.4% in the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after purchasing an additional 4,346,011 shares during the period. Jupiter Topco LLC bought a new position in Achieve Life Sciences during the 2nd quarter valued at $17,964,000. Finally, Alyeska Investment Group L.P. bought a new position in Achieve Life Sciences during the 2nd quarter valued at $12,575,000. 33.52% of the stock is currently owned by institutional investors.

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.