Short Interest in Achieve Life Sciences, Inc. (NASDAQ:ACHV) Expands By 30.0%

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,810,000 shares, a growth of 30.0% from the December 15th total of 2,930,000 shares. Based on an average daily trading volume, of 153,600 shares, the days-to-cover ratio is currently 24.8 days.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock traded down $0.21 during trading on Thursday, reaching $3.07. The company's stock had a trading volume of 217,538 shares, compared to its average volume of 348,944. Achieve Life Sciences has a one year low of $3.07 and a one year high of $5.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. The firm has a market cap of $105.58 million, a price-to-earnings ratio of -2.72 and a beta of 1.66. The business's fifty day moving average price is $4.07 and its 200-day moving average price is $4.46.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its quarterly 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 period in the prior year, the company earned ($0.34) earnings per share. As a group, equities research analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ACHV. RODMAN&RENSHAW raised Achieve Life Sciences to a "strong-buy" rating in a research report on Thursday, November 14th. Raymond James began coverage on Achieve Life Sciences in a report on Friday, September 27th. They issued a "strong-buy" rating and a $20.00 target price for the company. Finally, Rodman & Renshaw began coverage on Achieve Life Sciences in a research report on Thursday, November 14th. They set a "buy" rating and a $12.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Achieve Life Sciences presently has an average rating of "Buy" and an average target price of $14.80.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences in the second quarter valued at $482,000. Geode Capital Management LLC increased its holdings in Achieve Life Sciences by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company's stock valued at $3,552,000 after buying an additional 48,474 shares during the period. Rhumbline Advisers acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at $197,000. Barclays PLC lifted its holdings in shares of Achieve Life Sciences by 303.1% during the 3rd quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company's stock worth $226,000 after acquiring an additional 35,832 shares during the period. Finally, State Street Corp boosted its position in shares of Achieve Life Sciences by 6.8% during the 3rd quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company's stock valued at $2,045,000 after acquiring an additional 27,419 shares in the last quarter. 33.52% of the stock is owned by institutional investors and hedge funds.

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.