Achieve Life Sciences (NASDAQ:ACHV) Coverage Initiated by Analysts at Raymond James

Equities researchers at Raymond James initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “strong-buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Raymond James’ target price indicates a potential upside of 319.29% from the company’s previous close.

Separately, Oppenheimer reaffirmed an “outperform” rating and set a $11.00 target price on shares of Achieve Life Sciences in a report on Thursday, August 15th.

Achieve Life Sciences Trading Up 7.4 %

Shares of NASDAQ ACHV opened at $4.77 on Friday. The stock’s 50 day moving average price is $4.52 and its two-hundred day moving average price is $4.68. Achieve Life Sciences has a 52-week low of $3.03 and a 52-week high of $5.98. The stock has a market capitalization of $163.80 million, a P/E ratio of -3.70 and a beta of 1.56. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.21.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the prior year, the company earned ($0.43) earnings per share. On average, analysts anticipate that Achieve Life Sciences will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHV. CVI Holdings LLC bought a new position in Achieve Life Sciences in the 1st quarter worth approximately $2,578,000. Vanguard Group Inc. boosted its stake in Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after purchasing an additional 342,731 shares in the last quarter. Propel Bio Management LLC bought a new position in Achieve Life Sciences during the 1st quarter valued at $11,149,000. Virtu Financial LLC bought a new position in Achieve Life Sciences during the 1st quarter valued at $59,000. Finally, Bank of New York Mellon Corp bought a new position in Achieve Life Sciences during the 2nd quarter valued at $482,000. 33.52% of the stock is owned by 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.