Achieve Life Sciences (NASDAQ:ACHV) Upgraded at RODMAN&RENSHAW

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

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

Achieve Life Sciences Price Performance

NASDAQ ACHV traded down $0.14 during midday trading on Thursday, hitting $4.25. The company had a trading volume of 54,889 shares, compared to its average volume of 139,632. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $5.98. The firm has a 50-day moving average price of $4.72 and a 200-day moving average price of $4.76. 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 company has a market capitalization of $146.16 million, a PE ratio of -3.88 and a beta of 1.57.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results 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 quarter in the previous year, the company posted ($0.34) earnings per share. As a group, analysts anticipate that Achieve Life Sciences will post -1.17 earnings per share for the current fiscal year.

Institutional Trading of Achieve Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Propel Bio Management LLC purchased a new stake in Achieve Life Sciences in the first quarter worth $11,149,000. Vanguard Group Inc. lifted its position in Achieve Life Sciences by 56.6% during the first 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. Bank of New York Mellon Corp purchased a new position in Achieve Life Sciences during the second quarter valued at approximately $482,000. Rhumbline Advisers purchased a new position in shares of Achieve Life Sciences during the 2nd quarter valued at $197,000. Finally, Verition Fund Management LLC bought a new stake in Achieve Life Sciences during the 3rd quarter valued at approximately $113,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.