Achieve Life Sciences (NASDAQ:ACHV) Earns Buy Rating from Analysts at Jonestrading

Jonestrading initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a report issued on Wednesday morning, Benzinga reports. The brokerage issued a buy rating and a $20.00 price objective on the biopharmaceutical company’s stock.

ACHV has been the topic of several other reports. Lake Street Capital reduced their price objective on Achieve Life Sciences from $19.00 to $11.00 and set a buy rating on the stock in a research note on Tuesday, March 5th. Oppenheimer restated an outperform rating and set a $18.00 price objective on shares of Achieve Life Sciences in a research note on Monday, April 1st.

Achieve Life Sciences Stock Up 4.3 %

ACHV stock opened at $4.57 on Wednesday. The firm has a 50 day simple moving average of $4.42 and a 200-day simple moving average of $4.40. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $10.30. The company has a market capitalization of $156.53 million, a P/E ratio of -2.99 and a beta of 1.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 4.02.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds have recently added to or reduced their stakes in ACHV. Tower Research Capital LLC TRC lifted its stake in Achieve Life Sciences by 75.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 1,570 shares during the last quarter. HRT Financial LP bought a new stake in Achieve Life Sciences in the fourth quarter valued at $32,000. Morgan Stanley lifted its stake in Achieve Life Sciences by 437.4% in the fourth quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 11,026 shares during the last quarter. Madison Park Capital Advisors LLC bought a new stake in Achieve Life Sciences in the fourth quarter valued at $41,000. Finally, Prelude Capital Management LLC bought a new stake in Achieve Life Sciences in the second quarter valued at $49,000. 33.52% of the stock is currently owned by institutional investors.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.