The Manufacturers Life Insurance Company Purchases New Position in Achieve Life Sciences, Inc. (NASDAQ:ACHV)

The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,641 shares of the biopharmaceutical company’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACHV. CVI Holdings LLC bought a new stake in shares of Achieve Life Sciences during the first quarter worth $2,578,000. Vanguard Group Inc. boosted its holdings in shares of Achieve Life Sciences by 56.6% during 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. Virtu Financial LLC acquired a new stake in shares of Achieve Life Sciences during the 1st quarter valued at $59,000. Renaissance Technologies LLC grew its position in Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 14,360 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in Achieve Life Sciences in the 2nd quarter worth about $197,000. Institutional investors own 33.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James initiated coverage on Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price objective on shares of Achieve Life Sciences in a report on Thursday, August 15th.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $5.08 on Monday. The company has a market capitalization of $174.45 million, a price-to-earnings ratio of -3.94 and a beta of 1.56. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.21. Achieve Life Sciences, Inc. has a twelve month low of $3.03 and a twelve month high of $5.98. The stock has a fifty day simple moving average of $4.60 and a 200 day simple moving average of $4.73.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the company posted ($0.43) earnings per share. Sell-side analysts expect that Achieve Life Sciences, Inc. will post -1.03 EPS for the current year.

Achieve Life Sciences 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.