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

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

Analysts Set New Price Targets

Several analysts have recently weighed in on ACHV shares. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Raymond James started coverage on shares of 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 issued a $11.00 price target on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Finally, Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $12.00 price objective for the company. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $4.41 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. The stock has a market capitalization of $151.66 million, a P/E ratio of -3.90 and a beta of 1.57. The company has a 50 day moving average price of $4.71 and a 200 day moving average price of $4.74. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $5.96.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly 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 earned ($0.34) EPS. Equities research analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Achieve Life Sciences in the 3rd quarter valued at $54,000. Virtu Financial LLC acquired a new stake in shares of Achieve Life Sciences in the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at $69,000. MetLife Investment Management LLC raised its holdings in shares of Achieve Life Sciences by 65.6% in the 3rd quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 5,939 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Achieve Life Sciences during the 3rd quarter worth $113,000. 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.