Achieve Life Sciences (NASDAQ:ACHV) Sets New 52-Week High – Still a Buy?

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.15 and last traded at $6.0750, with a volume of 807930 shares changing hands. The stock had previously closed at $5.75.

Analysts Set New Price Targets

A number of research firms have weighed in on ACHV. 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. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Achieve Life Sciences has a consensus rating of “Buy” and a consensus price target of $14.67.

Achieve Life Sciences Price Performance

The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87. The stock has a market cap of $587.11 million, a price-to-earnings ratio of -5.09 and a beta of 2.27. The company’s 50-day moving average is $4.51 and its 200-day moving average is $4.51.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.11. Equities 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 large investors have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC bought a new stake in Achieve Life Sciences during the first quarter worth about $32,000. Qube Research & Technologies Ltd bought a new stake in Achieve Life Sciences during the second quarter worth about $232,000. Raymond James Financial Inc. grew its stake in Achieve Life Sciences by 57.1% during the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock worth $667,000 after buying an additional 107,218 shares during the last quarter. Jane Street Group LLC bought a new stake in Achieve Life Sciences during the second quarter worth about $159,000. Finally, Bank of America Corp DE grew its stake in Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 9,617 shares during the last quarter. 33.52% of the stock is owned by institutional investors.

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.