Achieve Life Sciences (NASDAQ:ACHV) Coverage Initiated by Analysts at Raymond James

Raymond James assumed coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued a strong-buy rating and a $20.00 price objective on the biopharmaceutical company’s stock.

Separately, Oppenheimer reaffirmed an outperform rating and set a $11.00 price objective on shares of Achieve Life Sciences in a research note on Thursday, August 15th.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $4.77 on Friday. The stock has a 50-day simple moving average of $4.52 and a two-hundred day simple moving average of $4.68. The firm has a market capitalization of $163.81 million, a P/E ratio of -3.70 and a beta of 1.56. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $5.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.56 and a current ratio of 4.56.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period last year, the business earned ($0.43) EPS. On average, equities analysts forecast that Achieve Life Sciences will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Achieve Life Sciences during the 1st quarter valued at approximately $59,000. The Manufacturers Life Insurance Company purchased a new position in shares of Achieve Life Sciences during the 2nd quarter valued at approximately $69,000. Renaissance Technologies LLC lifted 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 buying an additional 14,360 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Achieve Life Sciences during the 2nd quarter valued at approximately $197,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Achieve Life Sciences during the 2nd quarter valued at approximately $482,000. Institutional investors and hedge funds 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.