Achieve Life Sciences (NASDAQ:ACHV) Stock Rating Upgraded by RODMAN&RENSHAW

Achieve Life Sciences (NASDAQ:ACHV) was upgraded by investment analysts at RODMAN&RENSHAW to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Raymond James started coverage on shares of Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price for the company. Rodman & Renshaw began coverage on shares of Achieve Life Sciences in a research note on Thursday. They issued a “buy” rating and a $12.00 target price for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a report on Thursday, August 15th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Achieve Life Sciences currently has a consensus rating of “Buy” and an average price target of $14.80.

Achieve Life Sciences Stock Down 3.2 %

NASDAQ ACHV opened at $4.25 on Thursday. Achieve Life Sciences has a 1-year low of $3.03 and a 1-year 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. The stock’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.76. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC boosted its stake in shares of Achieve Life Sciences by 65.6% in the 3rd 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 Achieve Life Sciences in the third quarter valued at approximately $54,000. Virtu Financial LLC acquired a new stake in Achieve Life Sciences during the 1st quarter worth $59,000. Renaissance Technologies LLC raised its position in shares of Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 14,360 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $69,000. Institutional investors own 33.52% of the company’s stock.

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.