Achieve Life Sciences (NASDAQ:ACHV) Trading 5.2% Higher – Time to Buy?

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) were up 5.2% on Tuesday . The company traded as high as $8.38 and last traded at $8.3550. 693,049 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,314,140 shares. The stock had previously closed at $7.94.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACHV shares. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Raymond James Financial reissued a “strong-buy” rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Morgan Stanley began coverage on Achieve Life Sciences in a report on Thursday, August 13th. They set an “overweight” rating and a $13.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.00.

Achieve Life Sciences Trading Up 4.0%

The company’s fifty day simple moving average is $6.70 and its two-hundred day simple moving average is $5.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $849.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.24.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). Research analysts forecast that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Achieve Life Sciences news, Director Richard Alistair Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the transaction, the director directly owned 208,249 shares in the company, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. acquired a new stake in shares of Achieve Life Sciences during the second quarter worth about $49,725,000. venBio Partners LLC acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at approximately $38,623,122. BlackRock Inc. bought a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $34,426,000. Franklin Resources Inc. increased its stake in Achieve Life Sciences by 18,747.4% during the 4th 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 in the last quarter. Finally, Jupiter Topco LLC acquired a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $17,964,000. 33.52% of the stock is owned by institutional investors and hedge funds.

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.