Rodman & Renshaw Begins Coverage on Achieve Life Sciences (NASDAQ:ACHV)

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

A number of other equities research analysts also recently weighed in on ACHV. Oppenheimer reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Raymond James initiated 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 for the company. Four equities research 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 company presently has an average rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Stock Down 3.2 %

Achieve Life Sciences stock traded down $0.14 during trading hours on Thursday, hitting $4.25. The stock had a trading volume of 54,889 shares, compared to its average volume of 139,632. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $146.16 million, a P/E ratio of -3.88 and a beta of 1.57. The stock’s 50-day moving average price is $4.72 and its 200-day moving average price is $4.76. 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 posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) 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. Equities research analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds have recently bought and sold shares of ACHV. Vanguard Group Inc. lifted its position in shares of Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after acquiring an additional 342,731 shares in the last quarter. Propel Bio Management LLC purchased a new stake in Achieve Life Sciences during the 1st quarter worth $11,149,000. Virtu Financial LLC acquired a new position in Achieve Life Sciences during the 1st quarter worth $59,000. Bank of New York Mellon Corp bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth about $482,000. Finally, Rhumbline Advisers acquired a new stake in shares of Achieve Life Sciences in the 2nd quarter worth about $197,000. 33.52% of the stock is 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.