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

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.80.

Several equities analysts have recently issued reports on ACHV shares. Raymond James assumed coverage on Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Finally, 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 on the stock.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its stake in Achieve Life Sciences by 65.6% in the third 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 last quarter. SG Americas Securities LLC acquired a new position in shares of Achieve Life Sciences in the 3rd quarter valued at $54,000. Renaissance Technologies LLC grew its position in shares of Achieve Life Sciences by 134.2% in the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 14,360 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Achieve Life Sciences during the 2nd quarter worth $69,000. Finally, Verition Fund Management LLC acquired a new stake in Achieve Life Sciences during the 3rd quarter worth $113,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $3.52 on Friday. Achieve Life Sciences has a 52 week low of $3.42 and a 52 week high of $5.59. The company has a fifty day simple moving average of $4.22 and a two-hundred day simple moving average of $4.51. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $121.05 million, a price-to-earnings ratio of -3.12 and a beta of 1.66.

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

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.