Achieve Life Sciences (NASDAQ:ACHV) Now Covered by Rodman & Renshaw

Rodman & Renshaw began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note released on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $12.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on ACHV. Oppenheimer reissued an “outperform” rating and issued a $11.00 price target on shares of Achieve Life Sciences in a 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 target price for the company. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Trading Down 3.2 %

ACHV stock traded down $0.14 during mid-day trading on Thursday, reaching $4.25. 54,889 shares of the stock traded hands, compared to its average volume of 139,632. The stock’s fifty day moving average is $4.72 and its 200-day moving average is $4.76. The company has a market cap of $146.16 million, a P/E ratio of -3.88 and a beta of 1.57. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. Achieve Life Sciences has a 52-week low of $3.03 and a 52-week high of $5.98.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data 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 period last year, the company earned ($0.34) EPS. As a group, sell-side 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

A number of institutional investors have recently made changes to their positions in the stock. Propel Bio Management LLC acquired a new position in Achieve Life Sciences in the first quarter valued at approximately $11,149,000. Vanguard Group Inc. raised its holdings in shares of Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after purchasing an additional 342,731 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Achieve Life Sciences during the 2nd quarter worth approximately $482,000. Rhumbline Advisers bought a new position in Achieve Life Sciences in the 2nd quarter valued at $197,000. Finally, Verition Fund Management LLC bought a new stake in Achieve Life Sciences in the third quarter worth about $113,000. Institutional investors own 33.52% of the company’s stock.

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.