Rodman & Renshaw Begins Coverage on Achieve Life Sciences (NASDAQ:ACHV)

Stock analysts at Rodman & Renshaw started coverage on shares of Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) in a research note issued on Thursday, Marketbeat reports. The firm set a "buy" rating and a $12.00 price target on the biopharmaceutical company's stock. Rodman & Renshaw's target price suggests a potential upside of 173.35% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. Oppenheimer restated an "outperform" rating and set a $11.00 price target on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Raymond James initiated coverage on shares of Achieve Life Sciences in a research report on Friday, September 27th. They set a "strong-buy" rating and a $20.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $14.80.

Achieve Life Sciences Price Performance

Shares of NASDAQ ACHV traded down $0.14 during trading on Thursday, hitting $4.39. The company had a trading volume of 155,659 shares, compared to its average volume of 140,016. The stock has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $4.76. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $5.98. The firm has a market capitalization 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 - Get Free Report) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.10). During the same quarter last year, the business posted ($0.34) EPS. On average, research analysts expect that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Several large investors have recently added to or reduced their stakes in ACHV. SG Americas Securities LLC acquired a new position in Achieve Life Sciences during the 3rd quarter worth approximately $54,000. Virtu Financial LLC acquired a new position in Achieve Life Sciences during the 1st quarter worth approximately $59,000. The Manufacturers Life Insurance Company acquired a new position in Achieve Life Sciences during the 2nd quarter worth approximately $69,000. MetLife Investment Management LLC grew its holdings in Achieve Life Sciences by 65.6% during the 3rd quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 5,939 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Achieve Life Sciences during the 3rd quarter worth approximately $113,000. 33.52% of the stock is owned by hedge funds and other 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.