Achieve Life Sciences, Inc. (NASDAQ:ACHV – Get Rating) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 633,200 shares, a growth of 11.2% from the April 30th total of 569,600 shares. Based on an average daily volume of 156,300 shares, the short-interest ratio is currently 4.1 days.
Institutional Trading of Achieve Life Sciences
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Achieve Life Sciences by 75.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 1,570 shares during the last quarter. HRT Financial LP purchased a new stake in Achieve Life Sciences in the 4th quarter valued at about $32,000. Morgan Stanley boosted its position in Achieve Life Sciences by 437.4% in the 4th 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 period. Prelude Capital Management LLC purchased a new stake in Achieve Life Sciences in the 2nd quarter valued at about $49,000. Finally, Jane Street Group LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter valued at about $53,000. 21.11% of the stock is currently owned by institutional investors.
Achieve Life Sciences Trading Up 11.2 %
Shares of ACHV stock opened at $6.28 on Monday. Achieve Life Sciences has a 12-month low of $2.00 and a 12-month high of $10.30. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $7.17 and its 200 day moving average is $4.97. The stock has a market capitalization of $113.29 million, a P/E ratio of -1.67 and a beta of 1.52.
Achieve Life Sciences (NASDAQ:ACHV – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.07. During the same quarter in the prior year, the company earned ($0.76) EPS. Research analysts expect that Achieve Life Sciences will post -1.59 earnings per share for the current year.
Analysts Set New Price Targets
ACHV has been the subject of a number of analyst reports. Maxim Group raised their target price on shares of Achieve Life Sciences from $8.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price on shares of Achieve Life Sciences in a research note on Friday, March 17th.
Achieve Life Sciences Company Profile
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.
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