Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Consensus Recommendation of “Buy” from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.80.

ACHV has been the topic of a number of recent analyst reports. Rodman & Renshaw began 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 research note on Thursday, November 14th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC grew its holdings 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 worth $226,000 after purchasing an additional 35,832 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Achieve Life Sciences by 6.9% in the third quarter. Geode Capital Management LLC now owns 749,109 shares of the biopharmaceutical company’s stock worth $3,552,000 after purchasing an additional 48,474 shares during the last quarter. State Street Corp grew its holdings in shares of Achieve Life Sciences by 6.8% in 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 during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Achieve Life Sciences by 134.2% in the second quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 14,360 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of 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 worth $71,000 after purchasing an additional 5,939 shares during the last quarter. 33.52% of the stock is owned by hedge funds and other institutional investors.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $3.27 on Wednesday. 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 market capitalization of $112.46 million, a PE ratio of -2.89 and a beta of 1.66. Achieve Life Sciences has a twelve month low of $2.84 and a twelve month high of $5.59. The company has a 50-day moving average price of $3.75 and a two-hundred day moving average price of $4.32.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly 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 period in the previous year, the firm earned ($0.34) EPS. Equities analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current year.

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.