Fintel reports that on September 27, 2024, Raymond James initiated coverage of Achieve Life Sciences (NasdaqCM:ACHV) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 229.23% Upside
As of September 25, 2024, the average one-year price target for Achieve Life Sciences is $15.74/share. The forecasts range from a low of $10.10 to a high of $31.50. The average price target represents an increase of 229.23% from its latest reported closing price of $4.78 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Achieve Life Sciences is 24MM. The projected annual non-GAAP EPS is -0.81.
What is the Fund Sentiment?
There are 92 funds or institutions reporting positions in Achieve Life Sciences. This is an increase of 33 owner(s) or 55.93% in the last quarter. Average portfolio weight of all funds dedicated to ACHV is 0.12%, an increase of 43.44%. Total shares owned by institutions increased in the last three months by 21.26% to 21,051K shares. 
The put/call ratio of ACHV is 0.04, indicating a bullish outlook.
What are Other Shareholders Doing?
Franklin Resources holds 6,052K shares representing 17.62% ownership of the company. In its prior filing, the firm reported owning 5,964K shares , representing an increase of 1.46%. The firm decreased its portfolio allocation in ACHV by 81.49% over the last quarter.
Propel Bio Management holds 2,453K shares representing 7.14% ownership of the company. No change in the last quarter.
FBDIX - Franklin Biotechnology Discovery Fund holds 2,181K shares representing 6.35% ownership of the company. No change in the last quarter.
Sofinnova Investments holds 1,388K shares representing 4.04% ownership of the company. In its prior filing, the firm reported owning 1,518K shares , representing a decrease of 9.35%. The firm decreased its portfolio allocation in ACHV by 11.48% over the last quarter.
Geode Capital Management holds 701K shares representing 2.04% ownership of the company. In its prior filing, the firm reported owning 207K shares , representing an increase of 70.49%. The firm increased its portfolio allocation in ACHV by 232.43% over the last quarter.
Achieve Life Sciences Background Information
(This description is provided by the company.)
Tobacco use is currently the leading cause of preventable death that is responsible for more than eight million deaths worldwide. and nearly half a million deaths in the U.S. annually.12 More than 87% of lung cancer deaths, 61% of all pulmonary disease deaths, and 32% of all deaths from coronary heart disease are attributable to smoking and exposure to secondhand smoke. Achieve's focus is to address the global smoking health and nicotine addiction epidemic through the development and commercialization of cytisinicline. Cytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in smoking cessation by interacting with nicotine receptors in the brain by reducing the severity of nicotine withdrawal symptoms and by reducing the reward and satisfaction associated with smoking.
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