Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Up 30.0% in December

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,810,000 shares, a growth of 30.0% from the December 15th total of 2,930,000 shares. Based on an average daily volume of 153,600 shares, the short-interest ratio is currently 24.8 days.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $3.28 on Thursday. The stock has a 50-day moving average price of $4.11 and a 200 day moving average price of $4.47. The stock has a market capitalization of $112.80 million, a P/E ratio of -2.90 and a beta of 1.66. Achieve Life Sciences has a 12-month low of $3.12 and a 12-month high of $5.59. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same quarter last year, the firm earned ($0.34) EPS. Equities research analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ACHV shares. Raymond James assumed coverage on Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price objective on the stock. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Rodman & Renshaw assumed 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 for the company. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Hedge Funds Weigh In On Achieve Life Sciences

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth $54,000. The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences in the second quarter worth about $69,000. MetLife Investment Management LLC lifted its position in shares of Achieve Life Sciences by 65.6% in the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,939 shares in the last quarter. Verition Fund Management LLC bought a new position in Achieve Life Sciences during the third quarter valued at approximately $113,000. Finally, Renaissance Technologies LLC grew its holdings 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 valued at $118,000 after buying an additional 14,360 shares in the last quarter. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.