Achieve Life Sciences, Inc. (NASDAQ:ACHV – Get Rating) saw a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 852,900 shares, an increase of 12.0% from the December 15th total of 761,800 shares. Based on an average trading volume of 76,000 shares, the short-interest ratio is currently 11.2 days. Approximately 13.9% of the company's stock are sold short.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ACHV. Oppenheimer lowered their price target on shares of Achieve Life Sciences from $27.00 to $20.00 in a research report on Tuesday, November 15th. Maxim Group lowered their price target on shares of Achieve Life Sciences from $21.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, November 16th.
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Institutional Trading of Achieve Life Sciences
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in Achieve Life Sciences during the 3rd quarter valued at about $53,000. Long Focus Capital Management LLC grew its stake in shares of Achieve Life Sciences by 73.6% in the third quarter. Long Focus Capital Management LLC now owns 308,220 shares of the biopharmaceutical company's stock worth $1,017,000 after acquiring an additional 130,624 shares during the period. Citadel Advisors LLC grew its stake in shares of Achieve Life Sciences by 33.2% in the third quarter. Citadel Advisors LLC now owns 35,000 shares of the biopharmaceutical company's stock worth $116,000 after acquiring an additional 8,725 shares during the period. Raymond James & Associates grew its stake in shares of Achieve Life Sciences by 34.6% in the third quarter. Raymond James & Associates now owns 17,431 shares of the biopharmaceutical company's stock worth $58,000 after acquiring an additional 4,482 shares during the period. Finally, Prelude Capital Management LLC bought a new stake in shares of Achieve Life Sciences in the second quarter worth approximately $49,000. 21.11% of the stock is currently owned by institutional investors.
Achieve Life Sciences Stock Up 7.3 %
NASDAQ:ACHV opened at $4.56 on Friday. The firm has a market cap of $44.15 million, a P/E ratio of -1.14 and a beta of 1.22. The company has a debt-to-equity ratio of 15.10, a quick ratio of 3.03 and a current ratio of 3.03. Achieve Life Sciences has a fifty-two week low of $2.00 and a fifty-two week high of $8.20. The firm has a 50-day simple moving average of $2.86 and a two-hundred day simple moving average of $3.64.
Achieve Life Sciences (NASDAQ:ACHV – Get Rating) last released its quarterly earnings data on Monday, November 14th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, missing analysts' consensus estimates of ($1.10) by ($0.25). Analysts predict that Achieve Life Sciences will post -4.04 earnings per share for the current fiscal year.
About Achieve Life Sciences
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Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes of cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.
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