Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Update

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

Achieve Life Sciences Stock Performance

Shares of ACHV stock opened at $3.24 on Friday. The firm has a market cap of $111.42 million, a price-to-earnings ratio of -2.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. Achieve Life Sciences has a 52 week low of $2.84 and a 52 week high of $5.59. The firm’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $4.34.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings data 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 last year, the company earned ($0.34) EPS. As a group, equities analysts forecast that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Institutional Trading of Achieve Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of ACHV. Geode Capital Management LLC lifted its stake in shares of Achieve Life Sciences by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock valued at $3,552,000 after buying an additional 48,474 shares in the last quarter. State Street Corp increased its holdings in Achieve Life Sciences by 6.8% during the 3rd quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock worth $2,045,000 after acquiring an additional 27,419 shares during the period. Barclays PLC increased its holdings in 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. Renaissance Technologies LLC increased 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 worth $118,000 after acquiring an additional 14,360 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Achieve Life Sciences during the 3rd quarter worth approximately $113,000. Institutional investors own 33.52% of the company’s stock.

Analysts Set New Price Targets

ACHV has been the subject of a number of analyst reports. RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $12.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.