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

Achieve Life Sciences (NASDAQ:ACHV) was upgraded by analysts at RODMAN&RENSHAW to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Rodman & Renshaw started coverage on Achieve Life Sciences in a research note on Thursday. They set a “buy” rating and a $12.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $11.00 target price on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Finally, Raymond James started coverage on Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price for the company. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $14.80.

Achieve Life Sciences Price Performance

Shares of ACHV opened at $4.39 on Thursday. 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 debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. Achieve Life Sciences has a one year low of $3.03 and a one year high of $5.98. The stock’s fifty day moving average is $4.72 and its 200-day moving average is $4.76.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same quarter in the prior year, the business earned ($0.34) earnings per share. Equities analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Achieve Life Sciences in the 3rd quarter valued at $54,000. Virtu Financial LLC acquired a new position in shares of Achieve Life Sciences in the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at $69,000. MetLife Investment Management LLC boosted its position in shares of Achieve Life Sciences by 65.6% in the 3rd 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 during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Achieve Life Sciences in the 3rd quarter valued at $113,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.