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

Raymond James began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a report issued 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 issued a $11.00 price objective on shares of Achieve Life Sciences in a research note on Thursday, August 15th.

Achieve Life Sciences Stock Performance

ACHV opened at $4.74 on Friday. The company’s 50 day moving average is $4.52 and its 200 day moving average is $4.69. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.21. The company has a market cap of $162.78 million, a price-to-earnings ratio of -3.67 and a beta of 1.56. Achieve Life Sciences has a 12-month low of $3.03 and a 12-month high of $5.98.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Achieve Life Sciences in the first quarter valued at about $59,000. The Manufacturers Life Insurance Company bought a new position in Achieve Life Sciences in the 2nd quarter worth approximately $69,000. Renaissance Technologies LLC grew its holdings in 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 bought a new stake in shares of Achieve Life Sciences during the second quarter valued at approximately $197,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Achieve Life Sciences in the second quarter worth $482,000. 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.