Achieve Life Sciences (NASDAQ:ACHV) Coverage Initiated by Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $12.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Raymond James initiated coverage on Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Stock Performance

Shares of NASDAQ:ACHV opened at $4.25 on Thursday. 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’s 50-day moving average is $4.72 and its 200 day moving average is $4.76. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $5.98. The company has a market capitalization of $146.16 million, a price-to-earnings ratio of -3.76 and a beta of 1.57.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results 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 in the prior year, the firm earned ($0.34) EPS. Research analysts predict that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACHV. SG Americas Securities LLC purchased a new stake 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 first quarter worth about $59,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $69,000. MetLife Investment Management LLC grew its holdings 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 period. Finally, Verition Fund Management LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth $113,000. 33.52% of the stock is owned by institutional investors and hedge funds.

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.