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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACHV. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. 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. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.67.

Achieve Life Sciences Price Performance

The company has a 50-day moving average of $4.14 and a two-hundred day moving average of $4.45. The stock has a market capitalization of $542.15 million, a PE ratio of -4.72 and a beta of 2.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.11. Sell-side analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Achieve Life Sciences by 18,747.4% during 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. Vanguard Group Inc. raised its stake in Achieve Life Sciences by 14.5% during the third quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock worth $7,755,000 after purchasing an additional 311,925 shares during the period. Millennium Management LLC raised its stake in Achieve Life Sciences by 472.3% during the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares during the period. Hudson Bay Capital Management LP purchased a new position in Achieve Life Sciences during the second quarter worth approximately $2,652,000. Finally, Marshall Wace LLP raised its stake in Achieve Life Sciences by 31.5% during the fourth quarter. Marshall Wace LLP now owns 1,019,281 shares of the biopharmaceutical company’s stock worth $5,066,000 after purchasing an additional 244,428 shares during the period. 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.