Achieve Life Sciences (NASDAQ:ACHV) Upgraded at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. Raymond James began coverage on Achieve Life Sciences in a report on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Finally, Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences in a report on Thursday. They issued a “buy” rating and a $12.00 price target for the company. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Trading Down 3.2 %

Shares of ACHV opened at $4.25 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. Achieve Life Sciences has a 1-year low of $3.03 and a 1-year high of $5.98. The firm has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $4.76. The stock has a market cap of $146.16 million, a price-to-earnings 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 for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same period in the prior year, the firm earned ($0.34) earnings per share. Equities analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Propel Bio Management LLC purchased a new stake in shares of Achieve Life Sciences in the first quarter worth approximately $11,149,000. Vanguard Group Inc. raised its holdings in Achieve Life Sciences by 56.6% in the 1st 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. Bank of New York Mellon Corp bought a new stake in shares of Achieve Life Sciences in the 2nd quarter worth approximately $482,000. 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 in the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Achieve Life Sciences in the second quarter valued at $197,000. 33.52% of the stock is owned by institutional investors and hedge funds.

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.