Achieve Life Sciences (NASDAQ:ACHV) Raised to “Strong-Buy” at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences in a research report on Thursday. They issued a “buy” rating and a $12.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $11.00 price target on shares of Achieve Life Sciences in a report on Thursday, August 15th. Finally, Raymond James began coverage on shares of Achieve Life Sciences in a report on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Achieve Life Sciences presently has a consensus rating of “Buy” and a consensus target price of $14.80.

Achieve Life Sciences Price Performance

Shares of ACHV stock opened at $4.25 on Thursday. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $5.98. The firm has a market cap of $146.16 million, a price-to-earnings ratio of -3.76 and a beta of 1.57. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $4.72 and a 200 day moving average price of $4.76.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.10). During the same quarter in the previous year, the business earned ($0.34) earnings per share. Research analysts expect that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Achieve Life Sciences by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock valued at $3,552,000 after purchasing an additional 48,474 shares during the last quarter. Barclays PLC grew its stake in Achieve Life Sciences by 303.1% during the third quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock worth $226,000 after purchasing an additional 35,832 shares during the period. State Street Corp increased its holdings in Achieve Life Sciences by 6.8% in the third quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 27,419 shares in the last quarter. Verition Fund Management LLC acquired a new position in Achieve Life Sciences in the third quarter valued at approximately $113,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Achieve Life Sciences by 65.6% during the 3rd quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,939 shares in the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.