Achieve Life Sciences (NASDAQ:ACHV) Now Covered by Rodman & Renshaw

Rodman & Renshaw began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a report released on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $12.00 price target on the biopharmaceutical company’s stock. Rodman & Renshaw’s target price points to a potential upside of 182.35% from the company’s previous close.

Several other equities research analysts have also recently issued reports on ACHV. Raymond James assumed coverage on Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price target for the company. Oppenheimer reissued an “outperform” rating and set a $11.00 target price on shares of Achieve Life Sciences in a report on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Achieve Life Sciences presently has a consensus rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $4.25 on Thursday. The stock has a market cap of $146.16 million, a PE ratio of -3.76 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. The firm has a 50-day moving average of $4.72 and a 200-day moving average of $4.76. Achieve Life Sciences has a 52-week low of $3.03 and a 52-week high of $5.98.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.10). During the same period in the previous year, the company posted ($0.34) earnings per share. On average, sell-side analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Barclays PLC increased its position in Achieve Life Sciences by 303.1% during the 3rd quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock worth $226,000 after purchasing an additional 35,832 shares in the last quarter. State Street Corp increased its holdings in shares of 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 buying an additional 27,419 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Achieve Life Sciences in the 3rd quarter valued at $113,000. MetLife Investment Management LLC grew its position in Achieve Life Sciences by 65.6% during the 3rd quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,939 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Achieve Life Sciences in the 3rd quarter worth about $54,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.