Charles Schwab Investment Management Inc. Sells 6,324 Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV)

Charles Schwab Investment Management Inc. cut its position in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,562 shares of the biopharmaceutical company’s stock after selling 6,324 shares during the period. Charles Schwab Investment Management Inc. owned 0.26% of Achieve Life Sciences worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in Achieve Life Sciences in the second quarter worth approximately $482,000. Rhumbline Advisers acquired a new position in shares of Achieve Life Sciences during the second quarter worth approximately $197,000. The Manufacturers Life Insurance Company bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth $69,000. Renaissance Technologies LLC grew its position in Achieve Life Sciences by 134.2% in the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 14,360 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Achieve Life Sciences during the 3rd quarter valued at $54,000. 33.52% of the stock is owned by institutional investors.

Achieve Life Sciences Stock Down 4.5 %

ACHV opened at $3.82 on Friday. Achieve Life Sciences, Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $5.59. The firm has a market capitalization of $131.37 million, a P/E ratio of -3.38 and a beta of 1.58. The company’s 50-day moving average is $4.57 and its 200 day moving average is $4.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78.

Achieve Life Sciences (NASDAQ:ACHV) last posted 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 period in the previous year, the company earned ($0.34) EPS. Research analysts expect that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Rodman & Renshaw began coverage on shares of Achieve Life Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $12.00 price objective on the stock. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Raymond James initiated coverage on Achieve Life Sciences in a report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 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. According to data from MarketBeat.com, Achieve Life Sciences has a consensus 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.