Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Consensus Rating of “Buy” by Brokerages

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.80.

ACHV has been the subject of a number of analyst reports. Rodman & Renshaw initiated coverage on Achieve Life Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $12.00 price target for the company. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Raymond James initiated coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price on the stock.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $3.52 on Friday. Achieve Life Sciences has a twelve month low of $3.42 and a twelve month high of $5.59. 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 market cap of $121.05 million, a PE ratio of -3.12 and a beta of 1.66. The company’s 50 day moving average is $4.22 and its 200 day moving average is $4.51.

Achieve Life Sciences (NASDAQ:ACHV) last released 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 period in the previous year, the business posted ($0.34) EPS. On average, sell-side analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Trading of Achieve Life Sciences

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Achieve Life Sciences by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock worth $3,552,000 after purchasing an additional 48,474 shares during the period. State Street Corp lifted its stake in Achieve Life Sciences by 6.8% during the third quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 27,419 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 in the last quarter. Barclays PLC boosted its position in shares of Achieve Life Sciences by 303.1% during the third quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock worth $226,000 after buying an additional 35,832 shares during the period. Finally, MetLife Investment Management LLC grew its stake 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 buying an additional 5,939 shares in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.