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

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

A number of other equities research analysts have also recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price objective on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Rodman & Renshaw started coverage on shares of Achieve Life Sciences in a research report on Thursday. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Raymond James initiated 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 on the stock. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.80.

Achieve Life Sciences Trading Down 3.2 %

Shares of Achieve Life Sciences stock opened at $4.25 on Thursday. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $4.72 and a 200-day simple moving average of $4.77. The stock has a market cap of $146.16 million, a price-to-earnings ratio of -3.76 and a beta of 1.57. Achieve Life Sciences has a 12-month low of $3.03 and a 12-month high of $5.98.

Achieve Life Sciences (NASDAQ:ACHV) last released 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 prior year, the business posted ($0.34) EPS. On average, equities analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. SG Americas Securities LLC purchased a new position in Achieve Life Sciences during the 3rd quarter worth $54,000. Virtu Financial LLC purchased a new position in Achieve Life Sciences during the first quarter worth about $59,000. The Manufacturers Life Insurance Company purchased a new position in Achieve Life Sciences during the second quarter worth about $69,000. MetLife Investment Management LLC lifted its position in Achieve Life Sciences by 65.6% in 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 during the period. Finally, Verition Fund Management LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter valued at approximately $113,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.