Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Down 9.6% in November

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 3,000,000 shares, a decline of 9.6% from the October 31st total of 3,320,000 shares. Based on an average daily trading volume, of 107,500 shares, the days-to-cover ratio is presently 27.9 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on ACHV shares. Raymond James started coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price objective for the company. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Oppenheimer reissued an “outperform” rating and set a $11.00 price objective on shares of Achieve Life Sciences in a research report on Thursday, August 15th. 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 target price for the company. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Achieve Life Sciences during the third quarter worth $54,000. Virtu Financial LLC bought a new stake in shares of Achieve Life Sciences in the 1st quarter worth $59,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Achieve Life Sciences in the second quarter valued at about $69,000. MetLife Investment Management LLC lifted its position in shares of Achieve Life Sciences by 65.6% during the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 5,939 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Achieve Life Sciences during the third quarter valued at about $113,000. Institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

ACHV opened at $4.41 on Monday. Achieve Life Sciences has a 1-year low of $3.03 and a 1-year high of $5.96. The company has a market cap of $151.66 million, a price-to-earnings ratio of -3.90 and a beta of 1.57. The company’s fifty day moving average price is $4.71 and its two-hundred day moving average price is $4.74. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same period in the prior year, the business posted ($0.34) EPS. On average, analysts expect that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

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.