Analysts Set Achieve Life Sciences, Inc. (NASDAQ:ACHV) Target Price at $14.80

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has received a consensus rating of “Buy” from the six research firms that are covering the company, Marketbeat Ratings 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 price objective among brokers that have issued a report on the stock in the last year is $14.80.

A number of analysts have issued reports on ACHV shares. Rodman & Renshaw initiated 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. RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a research report on Thursday, November 14th.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $3.27 on Wednesday. The firm has a market cap of $112.46 million, a price-to-earnings ratio of -2.89 and a beta of 1.66. The firm has a fifty day moving average price of $3.75 and a 200 day moving average price of $4.33. Achieve Life Sciences has a fifty-two week low of $2.84 and a fifty-two week high of $5.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data 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 quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that Achieve Life Sciences will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Achieve Life Sciences in the third quarter worth about $54,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Achieve Life Sciences in the second quarter worth approximately $69,000. MetLife Investment Management LLC raised 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 worth $71,000 after buying an additional 5,939 shares during the period. Verition Fund Management LLC bought a new stake in shares of Achieve Life Sciences during the 3rd quarter worth approximately $113,000. Finally, Renaissance Technologies LLC boosted its holdings in Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 14,360 shares during the period. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.