Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Consensus Recommendation of "Buy" from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) has been assigned an average recommendation of "Buy" from the six research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $14.80.

Several equities analysts have weighed in on ACHV shares. 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 target price on the stock. Oppenheimer reiterated an "outperform" rating and issued a $11.00 price objective on shares of Achieve Life Sciences in a research report on Thursday, August 15th. RODMAN&RENSHAW upgraded Achieve Life Sciences to a "strong-buy" rating in a research report on Thursday, November 14th. Finally, Rodman & Renshaw started coverage on Achieve Life Sciences in a report on Thursday, November 14th. They set a "buy" rating and a $12.00 price target for the company.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Achieve Life Sciences during the 3rd quarter valued at about $54,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Achieve Life Sciences during the second quarter worth about $69,000. MetLife Investment Management LLC grew its holdings in shares of Achieve Life Sciences by 65.6% in the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 5,939 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Achieve Life Sciences during the 3rd quarter worth approximately $113,000. Finally, Renaissance Technologies LLC lifted 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 worth $118,000 after buying an additional 14,360 shares in the last quarter. 33.52% of the stock is owned by institutional investors and hedge funds.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV traded down $0.18 during midday trading on Tuesday, hitting $4.38. The company had a trading volume of 115,499 shares, compared to its average volume of 138,185. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $5.59. The stock has a market cap of $150.63 million, a price-to-earnings ratio of -3.90 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. The business's 50-day simple moving average is $4.71 and its 200-day simple moving average is $4.71.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued 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 period last year, the business earned ($0.34) earnings per share. On average, research analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

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.