Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 5.7%

Achieve Life Sciences Inc (NASDAQ:ACHV) rose 5.7% during trading on Thursday . The stock traded as high as $1.93 and last traded at $1.85, approximately 109,877 shares traded hands during trading. A decline of 87% from the average daily volume of 819,214 shares. The stock had previously closed at $1.75.

ACHV has been the subject of several analyst reports. Maxim Group reiterated a “buy” rating and set a $6.00 price target on shares of Achieve Life Sciences in a report on Wednesday, July 24th. ValuEngine upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $20.00 price target on shares of Achieve Life Sciences in a report on Friday.

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 has a market cap of $14.18 million, a P/E ratio of -0.48 and a beta of 2.07. The business has a fifty day moving average of $1.91.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.17). Sell-side analysts predict that Achieve Life Sciences Inc will post -1.7 earnings per share for the current fiscal year.

In related news, major shareholder Armistice Capital Master Fund acquired 12,813 shares of Achieve Life Sciences stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average price of $3.80 per share, for a total transaction of $48,689.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard Alistair Stewart acquired 17,500 shares of Achieve Life Sciences stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $3.61 per share, with a total value of $63,175.00. The disclosure for this purchase can be found here. 6.80% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Achieve Life Sciences stock. Searle & CO. boosted its holdings in Achieve Life Sciences Inc (NASDAQ:ACHV) by 80.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 about 1.93% of Achieve Life Sciences worth $256,000 as of its most recent SEC filing. Institutional investors and hedge funds own 14.47% of the company’s stock.

Achieve Life Sciences Company Profile (NASDAQ:ACHV)

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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