Achieve Life Sciences (NASDAQ:ACHV) Reaches New 1-Year High – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.31 and last traded at $6.12, with a volume of 283150 shares trading hands. The stock had previously closed at $6.02.

Analyst Upgrades and Downgrades

Several research analysts have commented on ACHV shares. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a report on Monday, June 22nd. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday, June 23rd. Finally, Raymond James Financial started coverage on Achieve Life Sciences in a research report on Friday, June 26th. They set a “strong-buy” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.00.

Achieve Life Sciences Stock Up 4.8%

The firm’s fifty day moving average is $5.06 and its 200-day moving average is $4.60. The company has a market capitalization of $670.37 million, a P/E ratio of -5.83 and a beta of 2.27. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.11. As a group, equities research analysts predict that Achieve Life Sciences, Inc. will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. ADAR1 Capital Management LLC grew its stake in shares of Achieve Life Sciences by 10.7% in the third quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 4,627 shares during the last quarter. Manchester Financial Inc. grew its position in shares of Achieve Life Sciences by 12.1% in the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock valued at $195,000 after buying an additional 7,138 shares during the last quarter. Bank of America Corp DE grew its position in shares of 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 buying an additional 9,617 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its stake in shares of Achieve Life Sciences by 100.0% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 10,000 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at about $32,000. Institutional investors own 33.52% of the company’s stock.

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.