Achieve Life Sciences (NASDAQ:ACHV) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $12.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. 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 target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Achieve Life Sciences has an average rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Price Performance

NASDAQ:ACHV opened at $4.25 on Thursday. 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 has a 52 week low of $3.03 and a 52 week high of $5.98. The stock’s 50-day moving average price is $4.72 and its 200-day moving average price is $4.77. The stock has a market capitalization of $146.16 million, a PE ratio of -3.76 and a beta of 1.57.

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

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Achieve Life Sciences during the third quarter worth about $54,000. Virtu Financial LLC purchased a new position in Achieve Life Sciences in the 1st quarter worth approximately $59,000. The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth approximately $69,000. MetLife Investment Management LLC grew its position in shares of 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 in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at approximately $113,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.