Rodman & Renshaw Begins Coverage on Achieve Life Sciences (NASDAQ:ACHV)

Research analysts at Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $12.00 price target on the biopharmaceutical company’s stock. Rodman & Renshaw’s target price indicates a potential upside of 182.35% from the stock’s current price.

ACHV has been the subject of a number of other reports. Oppenheimer reissued an “outperform” rating and set a $11.00 price target on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Raymond James initiated coverage on Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Achieve Life Sciences has an average rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Price Performance

NASDAQ:ACHV opened at $4.25 on Thursday. The firm has a market cap of $146.16 million, a PE ratio of -3.76 and a beta of 1.57. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $5.98. The company’s 50-day moving average price is $4.72 and its two-hundred day moving average price is $4.76. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.31.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.10). During the same quarter in the previous year, the business posted ($0.34) EPS. On average, equities analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Achieve Life Sciences during the third quarter worth about $54,000. Virtu Financial LLC bought a new position in shares of Achieve Life Sciences in the first quarter valued at $59,000. The Manufacturers Life Insurance Company acquired a new position in Achieve Life Sciences during the second quarter worth $69,000. MetLife Investment Management LLC raised its position in Achieve Life Sciences by 65.6% during the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 5,939 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Achieve Life Sciences in the third quarter valued at $113,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

About Achieve Life Sciences

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.