Should You Hold Achieve Life Sciences (ACHV)?

Soumya Eswaran

Mon, Jul 7, 2025, 7:56 AM 3 min read

Rogue Funds, an investment management company, released its first quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund depreciated 12.4% net of fees in the quarter. The firm anticipates significant volatility in the near future. Because of the Fund's concentration, significant declines as well as significant rises in the total returns throughout the course of the year are not unusual. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its first quarter 2025 investor letter, Rogue Funds highlighted stocks such as Achieve Life Sciences, Inc. (NASDAQ:ACHV). Achieve Life Sciences, Inc. (NASDAQ:ACHV) is a clinical-stage pharmaceutical company. The one-month return of Achieve Life Sciences, Inc. (NASDAQ:ACHV) was -43.08%, and its shares lost 51.98% of their value over the last 52 weeks. On July 3, 2025, Achieve Life Sciences, Inc. (NASDAQ:ACHV) stock closed at $2.18 per share, with a market capitalization of $108.314 million.

Rogue Funds stated the following regarding Achieve Life Sciences, Inc. (NASDAQ:ACHV) in its first quarter 2025 investor letter:

"Achieve Life Sciences, Inc. (NASDAQ:ACHV) (Stock and Calls): You can read more about this investment on the Rogue Funds blog here. The company released their first long term trial results in early January and showed zero safety concerns. Despite this being one of the more confident positions for us, it has been an extremely frustrating ride for the Fund and has caused a severe drag in performance that I am not proud of. The current valuation is frankly ludicrous. They delayed NDA filing to June and right after the NDA they will get the July results back, which I expect to be great. They will most likely have to push for a raise to get to PDUFA (likely Q2 of 2026 unless the FDA speeds up approval timelines). In the meantime, after the NDA I still expect a rise in the stock price as they are extremely undervalued to their market potential. After the July study results, if they turn out to be good, it will be very hard to see why they would not be an obvious take-out target. Even with a raise, I still expect the company to have 5x-8x upside from where they are today."

A scientist in a lab coat discussing clinical trial results in a laboratory.

Achieve Life Sciences, Inc. (NASDAQ:ACHV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Achieve Life Sciences, Inc. (NASDAQ:ACHV) at the end of the first quarter, compared to 9 in the fourth quarter.  While we acknowledge the potential of Achieve Life Sciences, Inc. (NASDAQ:ACHV) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains.