Insider Selling: Achieve Life Sciences (NASDAQ:ACHV) Insider Sells $38,973.90 in Stock

Achieve Life Sciences, Inc. (NASDAQ:ACHV) insider Jerry Wan sold 14,070 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $38,973.90. Following the completion of the transaction, the insider owned 32,694 shares in the company, valued at $90,562.38. This represents a 30.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Achieve Life Sciences Stock Performance

Shares of ACHV stock opened at $3.28 on Thursday. Achieve Life Sciences, Inc. has a 12 month low of $1.84 and a 12 month high of $5.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.64 and a quick ratio of 6.64. The firm has a market capitalization of $167.61 million, a P/E ratio of -2.25 and a beta of 1.53. The company’s fifty day moving average price is $2.68 and its two-hundred day moving average price is $2.78.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). On average, research analysts anticipate that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on shares of Achieve Life Sciences in a research note on Thursday, August 21st. They issued a “buy” rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of $14.67.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of ACHV. Franklin Resources Inc. raised its stake in Achieve Life Sciences by 81.3% during the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after acquiring an additional 2,000,079 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Achieve Life Sciences during the second quarter worth about $2,652,000. Simplify Asset Management Inc. raised its stake in Achieve Life Sciences by 443.7% during the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after acquiring an additional 966,667 shares during the period. Stonepine Capital Management LLC acquired a new stake in Achieve Life Sciences during the second quarter worth about $753,000. Finally, Nantahala Capital Management LLC raised its stake in Achieve Life Sciences by 37.4% during the first quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock worth $2,400,000 after acquiring an additional 244,885 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

About Achieve Life Sciences

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