Oppenheimer Reaffirms Outperform Rating for Achieve Life Sciences (NASDAQ:ACHV)

Achieve Life Sciences (NASDAQ:ACHV – Get Rating)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a note issued to investors on Friday, Benzinga reports. They presently have a $17.00 price objective on the biopharmaceutical company’s stock. Oppenheimer’s price objective suggests a potential upside of 290.80% from the stock’s previous close.

Achieve Life Sciences Trading Down 2.0 %

NASDAQ:ACHV opened at $4.35 on Friday. Achieve Life Sciences has a 12-month low of $2.00 and a 12-month high of $8.13. The firm has a market cap of $77.87 million, a PE ratio of -1.09 and a beta of 1.44. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 15.10. The stock has a fifty day moving average price of $4.83 and a 200 day moving average price of $3.62.

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.07. During the same period in the previous year, the firm posted ($0.76) earnings per share. Sell-side analysts anticipate that Achieve Life Sciences will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in shares of Achieve Life Sciences in the 4th quarter valued at $75,000. Morgan Stanley increased its holdings in Achieve Life Sciences by 437.4% in the fourth quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 11,026 shares during the last quarter. HRT Financial LP acquired a new stake in Achieve Life Sciences in the fourth quarter valued at $32,000. Raymond James & Associates lifted its holdings in Achieve Life Sciences by 412.0% during the 4th quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 71,818 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Achieve Life Sciences by 48.4% during the 4th quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock worth $363,000 after acquiring an additional 48,400 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Achieve Life Sciences Company Profile

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Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products includes cytisine, a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.