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

Stock analysts at Raymond James started coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a “strong-buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Raymond James’ price objective indicates a potential upside of 319.29% from the stock’s previous close.

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

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $4.77 on Friday. Achieve Life Sciences has a fifty-two week low of $3.03 and a fifty-two week high of $5.98. The stock has a market cap of $163.80 million, a price-to-earnings ratio of -3.70 and a beta of 1.56. The business has a fifty day moving average of $4.52 and a 200-day moving average of $4.68. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.21.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period in the prior year, the business earned ($0.43) earnings per share. As a group, analysts predict that Achieve Life Sciences will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Achieve Life Sciences during the first quarter worth about $59,000. The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences during the second quarter worth about $69,000. Renaissance Technologies LLC lifted its stake in shares of Achieve Life Sciences by 134.2% during 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 in the last quarter. Rhumbline Advisers acquired a new position in shares of Achieve Life Sciences during the second quarter worth about $197,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences during the second quarter worth about $482,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Company 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.