Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Consensus Recommendation of “Buy” by Brokerages

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given an average rating of “Buy” by the six ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.80.

Several analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $11.00 price target on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Raymond James initiated coverage on shares of Achieve Life Sciences in a report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price on the stock. RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Rodman & Renshaw assumed coverage on Achieve Life Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $12.00 price objective on the stock.

Achieve Life Sciences Stock Up 4.3 %

Shares of NASDAQ ACHV opened at $4.34 on Friday. Achieve Life Sciences has a 52-week low of $3.03 and a 52-week high of $5.98. The business’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.76. The firm has a market cap of $149.25 million, a price-to-earnings ratio of -3.84 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.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHV. Vanguard Group Inc. lifted its position in shares of Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock worth $4,311,000 after purchasing an additional 342,731 shares during the last quarter. Propel Bio Management LLC purchased a new stake in Achieve Life Sciences during the 1st quarter worth about $11,149,000. Virtu Financial LLC acquired a new position in shares of Achieve Life Sciences during the 1st quarter worth about $59,000. Bank of New York Mellon Corp purchased a new position in shares of Achieve Life Sciences in the 2nd quarter valued at about $482,000. Finally, Rhumbline Advisers acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $197,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Company Profile

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.