Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives $14.80 Consensus Price Target from Analysts

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.80.

ACHV has been the subject of a number of research analyst reports. RODMAN&RENSHAW raised Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw assumed coverage on shares of Achieve Life Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Raymond James began 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 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACHV. Vanguard Group Inc. raised its stake in shares of Achieve Life Sciences by 56.6% during the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock worth $4,311,000 after buying an additional 342,731 shares during the last quarter. Renaissance Technologies LLC grew 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 acquiring an additional 14,360 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $69,000. SG Americas Securities LLC acquired a new position in shares of Achieve Life Sciences in the 3rd quarter valued at $54,000. Finally, Rhumbline Advisers bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth $197,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $4.13 on Tuesday. Achieve Life Sciences has a 1-year low of $3.10 and a 1-year high of $5.59. The company has a 50 day moving average of $4.63 and a 200-day moving average of $4.67. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. The firm has a market cap of $142.03 million, a price-to-earnings ratio of -3.65 and a beta of 1.58.

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