Achieve Life Sciences (NASDAQ:ACHV) Raised to “Strong-Buy” at RODMAN&RENSHAW

Achieve Life Sciences (NASDAQ:ACHV) was upgraded by research analysts at RODMAN&RENSHAW to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

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

Achieve Life Sciences Stock Performance

Achieve Life Sciences stock opened at $4.25 on Thursday. The firm has a market capitalization of $146.16 million, a PE ratio of -3.76 and a beta of 1.57. The stock’s 50 day moving average price is $4.72 and its 200 day moving average price is $4.76. Achieve Life Sciences has a one year low of $3.03 and a one year high of $5.98. 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 (NASDAQ:ACHV) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.10). During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Several institutional investors have recently made changes to their positions in the stock. Propel Bio Management LLC bought a new position in Achieve Life Sciences in the 1st quarter worth $11,149,000. Vanguard Group Inc. increased its stake in shares of Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock worth $4,311,000 after purchasing an additional 342,731 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth about $482,000. Rhumbline Advisers bought a new stake in Achieve Life Sciences during the 2nd quarter valued at approximately $197,000. Finally, Barclays PLC grew its holdings in Achieve Life Sciences by 303.1% in the 3rd quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 35,832 shares during the last quarter. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.