Achieve Life Sciences (NASDAQ:ACHV) Shares Down 6.8% – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s share price traded down 6.8% during trading on Thursday . The stock traded as low as $5.08 and last traded at $4.9950. 343,832 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,062,662 shares. The stock had previously closed at $5.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Achieve Life Sciences has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Stock Performance

The stock has a market capitalization of $503.54 million, a P/E ratio of -4.38 and a beta of 2.27. 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 business has a fifty day moving average price of $4.74 and a 200-day moving average price of $4.55.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.11. On average, sell-side analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACHV. AQR Capital Management LLC bought a new position in shares of Achieve Life Sciences during the first quarter valued at $32,000. Qube Research & Technologies Ltd bought a new position in Achieve Life Sciences in the second quarter valued at about $232,000. Raymond James Financial Inc. lifted its holdings in Achieve Life Sciences by 57.1% in the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after acquiring an additional 107,218 shares during the period. Jane Street Group LLC bought a new position in Achieve Life Sciences in the second quarter valued at about $159,000. Finally, Bank of America Corp DE lifted its holdings in Achieve Life Sciences by 39.9% in the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 9,617 shares during the period. 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.