Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Update

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,810,000 shares, a growth of 30.0% from the December 31st total of 2,930,000 shares. Based on an average daily trading volume, of 153,600 shares, the short-interest ratio is presently 24.8 days.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Achieve Life Sciences by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock valued at $3,552,000 after acquiring an additional 48,474 shares during the period. Barclays PLC increased its stake in Achieve Life Sciences by 303.1% during the 3rd 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 in the last quarter. State Street Corp increased its stake in Achieve Life Sciences by 6.8% during the 3rd quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock valued at $2,045,000 after purchasing an additional 27,419 shares in the last quarter. Verition Fund Management LLC bought a new stake in Achieve Life Sciences during the 3rd quarter valued at about $113,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Achieve Life Sciences during the 2nd quarter valued at about $69,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

Achieve Life Sciences Trading Up 0.6 %

Shares of ACHV opened at $3.24 on Friday. The stock has a market capitalization of $111.42 million, a P/E ratio of -2.87 and a beta of 1.66. 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 firm has a fifty day simple moving average of $3.77 and a two-hundred day simple moving average of $4.34. Achieve Life Sciences has a twelve month low of $2.84 and a twelve month high of $5.59.

Achieve Life Sciences (NASDAQ:ACHV) last posted its 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 previous year, the firm earned ($0.34) EPS. On average, research analysts anticipate that Achieve Life Sciences will post -1.17 EPS for the current year.

Analyst Upgrades and Downgrades

ACHV has been the topic of a number of research analyst reports. Rodman & Renshaw initiated coverage on shares of Achieve Life Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $12.00 price target on the stock. RODMAN&RENSHAW raised shares of Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. 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, Achieve Life Sciences has an average rating of “Buy” and an average price target of $14.80.

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.