Achieve Life Sciences (NASDAQ:ACHV) Rating Increased to Strong-Buy at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on ACHV. Raymond James began coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 target price for the company. Rodman & Renshaw assumed coverage on Achieve Life Sciences in a report on Thursday. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV traded down $0.14 during trading on Thursday, reaching $4.25. The stock had a trading volume of 54,889 shares, compared to its average volume of 139,632. The stock has a market capitalization of $146.16 million, a PE ratio of -3.88 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. Achieve Life Sciences has a 52 week low of $3.03 and a 52 week high of $5.98. The business’s 50-day moving average price is $4.72 and its 200 day moving average price is $4.76.

Achieve Life Sciences (NASDAQ:ACHV) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same quarter in the prior year, the business posted ($0.34) earnings per share. As a group, equities analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after buying an additional 342,731 shares during the period. Propel Bio Management LLC bought a new stake in Achieve Life Sciences in the 1st quarter valued at $11,149,000. Virtu Financial LLC acquired a new position in Achieve Life Sciences in the 1st quarter worth $59,000. Bank of New York Mellon Corp bought a new position in Achieve Life Sciences during the 2nd quarter worth about $482,000. Finally, Rhumbline Advisers acquired a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at about $197,000. 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.