Achieve Life Sciences (NASDAQ:ACHV) Receives New Coverage from Analysts at Jonestrading

Equities research analysts at Jonestrading began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a report released on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Jonestrading’s price objective would indicate a potential upside of 338.60% from the company’s current price.

A number of other brokerages have also commented on ACHV. Oppenheimer reissued an “outperform” rating and set a $18.00 price objective on shares of Achieve Life Sciences in a report on Monday, April 1st. Lake Street Capital decreased their target price on Achieve Life Sciences from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th.

Achieve Life Sciences Stock Up 4.1 %

Shares of NASDAQ ACHV traded up $0.18 during mid-day trading on Wednesday, reaching $4.56. 36,946 shares of the company traded hands, compared to its average volume of 88,811. The company has a debt-to-equity ratio of 4.02, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $156.18 million, a PE ratio of -2.97 and a beta of 1.32. The company’s fifty day moving average is $4.41 and its two-hundred day moving average is $4.40. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $10.30.

Institutional Trading of Achieve Life Sciences

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Achieve Life Sciences by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 605,710 shares of the biopharmaceutical company’s stock worth $2,496,000 after buying an additional 11,757 shares during the period. Northern Trust Corp lifted its position in shares of Achieve Life Sciences by 29.2% during the 4th quarter. Northern Trust Corp now owns 101,984 shares of the biopharmaceutical company’s stock worth $420,000 after buying an additional 23,027 shares during the period. Madison Park Capital Advisors LLC bought a new position in shares of Achieve Life Sciences during the 4th quarter worth approximately $41,000. Raymond James & Associates lifted its position in shares of Achieve Life Sciences by 6.0% during the 4th quarter. Raymond James & Associates now owns 154,829 shares of the biopharmaceutical company’s stock worth $638,000 after buying an additional 8,729 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Achieve Life Sciences by 11.1% during the 3rd quarter. LPL Financial LLC now owns 164,500 shares of the biopharmaceutical company’s stock worth $707,000 after buying an additional 16,500 shares during the period. Institutional investors own 33.52% of the company’s stock.

About Achieve Life Sciences

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.