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

Achieve Life Sciences (NASDAQ:ACHV) was upgraded by investment analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

ACHV has been the topic of a number of other reports. Rodman & Renshaw started coverage on Achieve Life Sciences in a research report on Thursday. They issued a “buy” rating and a $12.00 target price on the stock. Raymond James initiated coverage on Achieve Life Sciences in a report on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price target for the company. Finally, Oppenheimer restated an “outperform” rating and set a $11.00 price objective on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Stock Performance

Shares of ACHV opened at $4.39 on Thursday. The business’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.76. Achieve Life Sciences has a 52-week low of $3.03 and a 52-week high of $5.98. The firm has a market cap of $150.97 million, a price-to-earnings ratio of -3.88 and a beta of 1.57. 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 (NASDAQ:ACHV) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same quarter in the prior year, the business earned ($0.34) earnings per share. Analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock worth $4,311,000 after buying an additional 342,731 shares during the period. Virtu Financial LLC acquired a new stake in Achieve Life Sciences in the first quarter worth $59,000. Renaissance Technologies LLC increased its position in Achieve Life Sciences by 134.2% in the second quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 14,360 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Achieve Life Sciences in the second quarter worth $69,000. Finally, SG Americas Securities LLC acquired a new stake in Achieve Life Sciences in the third quarter worth $54,000. 33.52% of the stock is currently owned by institutional investors.

About Achieve Life Sciences

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.