Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Consensus Recommendation of “Buy” by Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given an average rating of “Buy” by the six analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $14.80.

ACHV has been the topic of a number of recent analyst reports. Rodman & Renshaw initiated coverage on Achieve Life Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $12.00 target price on the stock. RODMAN&RENSHAW upgraded Achieve Life Sciences to a “strong-buy” rating in a research note 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 target price on the stock.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $4.10 on Tuesday. 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 stock’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $4.68. Achieve Life Sciences has a 1-year low of $3.10 and a 1-year high of $5.59. The stock has a market cap of $141.00 million, a PE ratio of -3.63 and a beta of 1.58.

Achieve Life Sciences (NASDAQ:ACHV) last issued 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 last year, the company posted ($0.34) earnings per share. As a group, analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth about $54,000. The Manufacturers Life Insurance Company purchased a new stake in Achieve Life Sciences in the 2nd quarter worth about $69,000. MetLife Investment Management LLC increased its holdings in Achieve Life Sciences by 65.6% in the 3rd 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 during the last quarter. Verition Fund Management LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth about $113,000. Finally, Renaissance Technologies LLC grew 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 valued at $118,000 after buying an additional 14,360 shares in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.