Verition Fund Management LLC bought a new position in Achieve Life Sciences, Inc. (NASDAQ:ACHV – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 23,805 shares of the biopharmaceutical company’s stock, valued at approximately $113,000. Verition Fund Management LLC owned approximately 0.07% of Achieve Life Sciences at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Achieve Life Sciences during the third quarter worth approximately $54,000. The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences during the 2nd quarter valued at about $69,000. MetLife Investment Management LLC grew its holdings 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 during the period. Renaissance Technologies LLC increased its position in Achieve Life Sciences by 134.2% during the second quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 14,360 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $197,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on ACHV shares. Raymond James began coverage on shares of Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price target on the stock. RODMAN&RENSHAW raised Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Rodman & Renshaw began coverage on Achieve Life Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $12.00 price objective for the company. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.80.
Achieve Life Sciences Price Performance
ACHV opened at $4.13 on Tuesday. The stock’s 50-day moving average price is $4.63 and its 200 day moving average price is $4.67. 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, Inc. has a 12-month low of $3.10 and a 12-month high of $5.59. The firm has a market cap of $142.03 million, a price-to-earnings ratio of -3.65 and a beta of 1.58.
Achieve Life Sciences (NASDAQ:ACHV – Get Free Report) last announced 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 last year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.
Achieve Life Sciences 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.
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