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

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

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

Achieve Life Sciences Price Performance

ACHV stock traded down $0.14 during midday trading on Thursday, hitting $4.25. 196,823 shares of the stock were exchanged, compared to its average volume of 140,272. 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 stock has a market cap of $146.16 million, a price-to-earnings ratio of -3.88 and a beta of 1.57. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $5.98. The stock's 50-day moving average price is $4.72 and its 200-day moving average price is $4.76.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its quarterly earnings data 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 last year, the firm posted ($0.34) EPS. Research analysts predict that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Institutional Trading of Achieve Life Sciences

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company's stock worth $4,311,000 after acquiring an additional 342,731 shares in the last quarter. Propel Bio Management LLC purchased a new position in shares of Achieve Life Sciences during the 1st quarter valued at approximately $11,149,000. Virtu Financial LLC acquired a new stake in shares of Achieve Life Sciences during the first quarter worth approximately $59,000. Bank of New York Mellon Corp bought a new position in Achieve Life Sciences during the 2nd quarter valued at $482,000. Finally, Rhumbline Advisers acquired a new position in Achieve Life Sciences during the 2nd quarter worth $197,000. 33.52% of the stock is owned by hedge funds and other 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.