Charles Schwab Investment Management Inc. Cuts Stake in Achieve Life Sciences, Inc. (NASDAQ:ACHV)

Charles Schwab Investment Management Inc. lessened its stake in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 6.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,562 shares of the biopharmaceutical company’s stock after selling 6,324 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Achieve Life Sciences were worth $425,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ACHV. Renaissance Technologies LLC grew its position in shares of Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 14,360 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Achieve Life Sciences in the second quarter valued at approximately $69,000. SG Americas Securities LLC bought a new position in Achieve Life Sciences during the third quarter valued at $54,000. Rhumbline Advisers purchased a new stake in Achieve Life Sciences in the second quarter worth $197,000. Finally, Bank of New York Mellon Corp purchased a new stake in Achieve Life Sciences in the second quarter worth $482,000. Institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Price Performance

Shares of NASDAQ ACHV opened at $3.82 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. Achieve Life Sciences, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $5.59. The stock has a market cap of $131.37 million, a PE ratio of -3.38 and a beta of 1.58. The stock has a fifty day moving average of $4.57 and a 200-day moving average of $4.65.

Achieve Life Sciences (NASDAQ:ACHV) last posted its 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 quarter last year, the firm earned ($0.34) earnings per share. Equities research analysts anticipate that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACHV has been the topic of a number of recent research reports. 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 target on the stock. Rodman & Renshaw assumed coverage on shares of Achieve Life Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a research report on Thursday, November 14th. Four 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, Achieve Life Sciences has an average rating of “Buy” and a consensus 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.