Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Average Rating of “Buy” from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given a consensus rating of “Buy” by the six research firms that are covering the stock, MarketBeat Ratings 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.80.

Several research analysts recently issued reports on ACHV shares. Rodman & Renshaw started coverage on 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. RODMAN&RENSHAW raised Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Raymond James initiated coverage on Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Achieve Life Sciences by 6.9% in the third quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock valued at $3,552,000 after purchasing an additional 48,474 shares during the last quarter. State Street Corp grew its holdings in Achieve Life Sciences by 6.8% in the 3rd quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock valued at $2,045,000 after buying an additional 27,419 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences during the 2nd quarter valued at about $482,000. Barclays PLC lifted its holdings in shares of Achieve Life Sciences by 303.1% during the 3rd quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock worth $226,000 after acquiring an additional 35,832 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Achieve Life Sciences in the second quarter worth approximately $197,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Trading Up 0.3 %

Shares of ACHV stock opened at $3.70 on Friday. The stock has a market cap of $127.24 million, a P/E ratio of -3.27 and a beta of 1.58. 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 has a fifty-two week low of $3.42 and a fifty-two week high of $5.59. The business has a fifty day simple moving average of $4.29 and a 200-day simple moving average of $4.54.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results 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 firm posted ($0.34) EPS. On average, analysts forecast that Achieve Life Sciences will post -1.17 earnings per share for the current fiscal year.

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.