Achieve Life Sciences (NASDAQ:ACHV) Research Coverage Started at Jonestrading

Jonestrading initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage issued a buy rating and a $20.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the stock. Oppenheimer reissued an outperform rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research note on Monday, April 1st. Lake Street Capital reduced their price objective on Achieve Life Sciences from $19.00 to $11.00 and set a buy rating on the stock in a research report on Tuesday, March 5th.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $4.51 on Wednesday. The company has a market cap of $154.47 million, a P/E ratio of -2.95 and a beta of 1.32. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $10.30. The company’s 50-day moving average price is $4.42 and its 200-day moving average price is $4.40. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 4.02.

Hedge Funds Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Achieve Life Sciences by 111.4% during the 1st quarter. Geode Capital Management LLC now owns 180,483 shares of the biopharmaceutical company’s stock valued at $1,227,000 after buying an additional 95,118 shares during the period. Raymond James & Associates grew its position in Achieve Life Sciences by 412.0% in the fourth quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 71,818 shares during the period. LPL Financial LLC increased its stake in Achieve Life Sciences by 48.4% during the fourth quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock worth $363,000 after acquiring an additional 48,400 shares during the last quarter. Northern Trust Corp raised its position in Achieve Life Sciences by 130.6% in the second quarter. Northern Trust Corp now owns 73,578 shares of the biopharmaceutical company’s stock valued at $382,000 after purchasing an additional 41,673 shares during the period. Finally, BlackRock Inc. raised its position in Achieve Life Sciences by 309.1% in the second quarter. BlackRock Inc. now owns 52,585 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 39,731 shares during the period. 33.52% of the stock is currently owned by institutional investors and hedge funds.

Achieve Life Sciences Company Profile

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