Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 11.6% – Should You Buy?

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) rose 11.6% during trading on Thursday . The stock traded as high as $5.36 and last traded at $5.3350. Approximately 1,928,681 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 1,018,410 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

ACHV has been the topic of several recent analyst reports. 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. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Stock Performance

The stock’s 50-day simple moving average is $4.14 and its 200 day simple moving average is $4.45. 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 market capitalization of $542.15 million, a PE ratio of -4.72 and a beta of 2.25.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.11. As a group, research analysts expect that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in ACHV. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at about $32,000. Next Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at about $51,000. Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences in the second quarter valued at about $56,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at about $63,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences in the fourth quarter valued at about $64,000. Hedge funds and other institutional investors 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.