Achieve Life Sciences (NASDAQ:ACHV) Given a $6.00 Price Target by Maxim Group Analysts

Achieve Life Sciences (NASDAQ:ACHV) received a $6.00 target price from analysts at Maxim Group in a research note issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price objective would suggest a potential upside of 235.20% from the company’s previous close.

A number of other research firms have also recently issued reports on ACHV. ValuEngine upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $20.00 target price on shares of Achieve Life Sciences in a research note on Friday.

Shares of NASDAQ:ACHV traded up $0.04 during trading on Friday, reaching $1.79. The stock had a trading volume of 28,922 shares, compared to its average volume of 809,800. Achieve Life Sciences has a 52 week low of $1.04 and a 52 week high of $5.25. The firm has a 50-day simple moving average of $1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market cap of $14.98 million, a PE ratio of -0.50 and a beta of 2.07.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.17). Equities research analysts anticipate that Achieve Life Sciences will post -1.7 earnings per share for the current fiscal year.

In related news, major shareholder Armistice Capital Master Fund purchased 12,813 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $3.80 per share, with a total value of $48,689.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Alistair Stewart purchased 17,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $3.61 per share, with a total value of $63,175.00. The disclosure for this purchase can be found here. Insiders own 6.80% of the company’s stock.

A hedge fund recently raised its stake in Achieve Life Sciences stock. Searle & CO. boosted its holdings in shares of Achieve Life Sciences Inc (NASDAQ:ACHV) by 80.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 132,592 shares of the biopharmaceutical company’s stock after acquiring an additional 59,092 shares during the period. Searle & CO. owned 1.93% of Achieve Life Sciences worth $256,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 14.47% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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