Achieve Life Sciences (NASDAQ:ACHV) Given “Outperform” Rating at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $11.00 target price on the biopharmaceutical company’s stock.

Separately, Jonestrading initiated coverage on shares of Achieve Life Sciences in a report on Wednesday, April 17th. They issued a buy rating and a $20.00 price objective for the company.

Achieve Life Sciences Price Performance

ACHV stock traded up $0.05 on Thursday, reaching $4.50. The company’s stock had a trading volume of 57,348 shares, compared to its average volume of 154,214. Achieve Life Sciences has a 52 week low of $3.03 and a 52 week high of $5.98. The company has a market capitalization of $154.53 million, a P/E ratio of -3.40 and a beta of 1.54. The firm has a fifty day moving average of $4.76 and a two-hundred day moving average of $4.68.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data 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 business earned ($0.43) EPS. As a group, equities analysts expect that Achieve Life Sciences will post -1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of ACHV. Propel Bio Management LLC acquired a new position in shares of Achieve Life Sciences in the 1st quarter worth approximately $11,149,000. CVI Holdings LLC purchased a new position in shares of Achieve Life Sciences in the first quarter worth approximately $2,578,000. Vanguard Group Inc. raised its stake in Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after purchasing an additional 342,731 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at about $482,000. Finally, Rhumbline Advisers purchased a new position in Achieve Life Sciences during the second quarter valued at approximately $197,000. 33.52% of the stock is currently owned by institutional investors.

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.