After Maxim Group and Ladenburg Thalmann & Co. gave Achieve Life Sciences (NASDAQ: ACHV) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Vernon Bernardino reiterated a Buy rating on Achieve Life Sciences today and set a price target of $24.00. The company’s shares closed last Wednesday at $8.93, close to its 52-week low of $4.51.
According to TipRanks.com, Bernardino is a 5-star analyst with an average return of 15.1% and a 34.0% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Citius Pharmaceuticals, Aridis Pharmaceuticals, and Phio Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Achieve Life Sciences with a $43.75 average price target, which is a 360.5% upside from current levels. In a report issued on September 17, Lake Street also initiated coverage with a Buy rating on the stock with a $30.00 price target.
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Based on Achieve Life Sciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.92 million. In comparison, last year the company had a GAAP net loss of $3.62 million.
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Achieve Life Sciences, Inc. is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products, cytisine, is a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.