Short Interest in Achieve Life Sciences, Inc. (NASDAQ:ACHV) Declines By 9.6%

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,000,000 shares, a drop of 9.6% from the October 31st total of 3,320,000 shares. Based on an average trading volume of 107,500 shares, the days-to-cover ratio is presently 27.9 days.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in ACHV. SG Americas Securities LLC bought a new stake in Achieve Life Sciences in the third quarter valued at approximately $54,000. Virtu Financial LLC bought a new stake in shares of Achieve Life Sciences in the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at $69,000. MetLife Investment Management LLC increased its position in shares of Achieve Life Sciences by 65.6% during 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. Finally, Verition Fund Management LLC acquired a new position in Achieve Life Sciences in the third quarter valued at $113,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Stock Down 1.8 %

Shares of NASDAQ ACHV opened at $4.41 on Monday. Achieve Life Sciences has a 1 year low of $3.03 and a 1 year high of $5.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. The firm has a market cap of $151.66 million, a PE ratio of -3.90 and a beta of 1.57. The company has a 50 day simple moving average of $4.71 and a 200 day simple moving average of $4.74.

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 the consensus estimate of ($0.26) by ($0.10). During the same period in the prior year, the company earned ($0.34) EPS. On average, research analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACHV shares. RODMAN&RENSHAW upgraded Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Raymond James began coverage on Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price objective for the company. Rodman & Renshaw initiated coverage on Achieve Life Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a report on Thursday, August 15th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $14.80.

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.