Key Points
- Director Richard Alistair Stewart sold 20,626 ACHV shares at an average price of $8.49, generating $175,114.74 and reducing his holdings by 9.01% to 208,249 shares.
- Achieve Life Sciences reported quarterly earnings of -$0.80 per share, missing the consensus estimate of -$0.16 by $0.64. Analysts expect a full-year loss of approximately $0.91 per share.
- Despite the earnings miss, analysts maintained a generally positive outlook, with an average rating of “Buy” and a consensus price target of $15.00; institutional investors own 33.52% of the stock.
Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) Director Richard Alistair Stewart sold 20,626 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the sale, the director directly owned 208,249 shares in the company, valued at $1,768,034.01. This represents a 9.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Achieve Life Sciences Stock Performance
Shares of ACHV opened at $7.99 on Friday. Achieve Life Sciences, Inc. has a 1 year low of $2.62 and a 1 year high of $8.61. The stock has a market capitalization of $822.17 million, a PE ratio of -5.15 and a beta of 2.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $5.05.
Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). On average, analysts predict that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Raymond James Financial reissued a "strong-buy" rating and issued a $18.00 target price on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Morgan Stanley assumed coverage on Achieve Life Sciences in a research note on Thursday, August 13th. They issued an "overweight" rating and a $13.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.00.
Check Out Our Latest Report on Achieve Life Sciences
Hedge Funds Weigh In On Achieve Life Sciences
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Achieve Life Sciences in the second quarter valued at approximately $49,000. AQR Capital Management LLC purchased a new stake in shares of Achieve Life Sciences during the 1st quarter worth approximately $32,000. Magnolia Capital Advisors LLC acquired a new position in shares of Achieve Life Sciences in the 4th quarter valued at $64,000. Jefferies Financial Group Inc. acquired a new position in shares of Achieve Life Sciences in the 4th quarter valued at $84,000. Finally, HRT Financial LP acquired a new position in shares of Achieve Life Sciences in the 4th quarter valued at $93,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.
Achieve Life Sciences Company Profile
(
Get Free Report)
Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.
Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.
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