Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives $14.80 Average Price Target from Analysts

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.80.

A number of equities analysts have recently commented on the stock. Rodman & Renshaw assumed coverage on shares of Achieve Life Sciences in a research note on Thursday. They set a “buy” rating and a $12.00 price objective for the company. Raymond James assumed coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $11.00 price objective on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Finally, RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $4.25 on Friday. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $5.98. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $146.16 million, a PE ratio of -3.76 and a beta of 1.57. The stock’s fifty day simple moving average is $4.72 and its 200 day simple moving average is $4.77.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results 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 period in the previous year, the company posted ($0.34) earnings per share. On average, research analysts predict that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Achieve Life Sciences during the third quarter worth $54,000. Virtu Financial LLC acquired a new position in Achieve Life Sciences in the first quarter valued at $59,000. The Manufacturers Life Insurance Company acquired a new position in Achieve Life Sciences in the second quarter valued at $69,000. MetLife Investment Management LLC lifted its holdings in 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 valued at $71,000 after buying an additional 5,939 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Achieve Life Sciences in the third quarter valued at $113,000. 33.52% of the stock is owned by institutional investors.

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.