Achieve Life Sciences (NASDAQ:ACHV) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) from a sell rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

ACHV has been the topic of several other research reports. Maxim Group reiterated a buy rating and set a $6.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, July 24th. LADENBURG THALM/SH SH set a $20.00 target price on Achieve Life Sciences and gave the stock a buy rating in a research report on Tuesday, June 11th.

NASDAQ ACHV opened at $1.79 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.63 and a current ratio of 2.63. The stock’s 50 day simple moving average is $2.02. Achieve Life Sciences has a 12-month low of $1.04 and a 12-month high of $5.25.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter. As a group, equities research analysts forecast that Achieve Life Sciences will post -1.7 EPS for the current year.

In other news, major shareholder Armistice Capital Master Fund purchased 12,813 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average price of $3.80 per share, with a total value of $48,689.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Alistair Stewart purchased 17,500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $3.61 per share, for a total transaction 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. lifted its position in shares of Achieve Life Sciences Inc (NASDAQ:ACHV) by 80.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,592 shares of the biopharmaceutical company’s stock after acquiring an additional 59,092 shares during the quarter. Searle & CO. owned 1.93% of Achieve Life Sciences worth $256,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.06% of the company’s stock.

About Achieve Life Sciences

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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