Geode Capital Management LLC Raises Stock Holdings in Achieve Life Sciences, Inc. (NASDAQ:ACHV)

Geode Capital Management LLC raised its holdings in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 749,109 shares of the biopharmaceutical company’s stock after buying an additional 48,474 shares during the quarter. Geode Capital Management LLC’s holdings in Achieve Life Sciences were worth $3,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Achieve Life Sciences in the 2nd quarter valued at $482,000. Rhumbline Advisers purchased a new position in Achieve Life Sciences during the second quarter valued at $197,000. Barclays PLC grew its position in shares of Achieve Life Sciences by 303.1% in the third quarter. Barclays PLC now owns 47,655 shares of the biopharmaceutical company’s stock valued at $226,000 after purchasing an additional 35,832 shares during the period. State Street Corp increased its stake in shares of Achieve Life Sciences by 6.8% during the third quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 27,419 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Achieve Life Sciences during the 3rd quarter worth about $113,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Achieve Life Sciences Trading Down 4.1 %

ACHV opened at $3.55 on Tuesday. The firm has a market capitalization of $122.08 million, a price-to-earnings ratio of -3.14 and a beta of 1.66. The company’s 50 day simple moving average is $4.27 and its two-hundred day simple moving average is $4.52. Achieve Life Sciences, Inc. has a 1-year low of $3.42 and a 1-year high of $5.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78.

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 quarter in the previous year, the business earned ($0.34) earnings per share. Analysts expect that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACHV. Rodman & Renshaw started coverage on Achieve Life Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $12.00 price objective on the stock. RODMAN&RENSHAW raised Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Raymond James began 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. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences 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.