Achieve Life Sciences (NASDAQ:ACHV) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.09, MarketWatch Earnings reports. During the same period in the prior year, the business earned ($1.30) EPS.

NASDAQ ACHV traded up $0.25 during midday trading on Friday, hitting $6.64. The company had a trading volume of 51,106 shares, compared to its average volume of 192,572. The company has a market capitalization of $62.95 million, a PE ratio of -1.75 and a beta of 1.13. The company has a current ratio of 9.80, a quick ratio of 9.80 and a debt-to-equity ratio of 0.53. Achieve Life Sciences has a twelve month low of $5.62 and a twelve month high of $10.40. The firm has a 50-day moving average price of $7.24 and a 200-day moving average price of $7.52.

Several equities research analysts have recently commented on the company. Oppenheimer lifted their target price on Achieve Life Sciences from $23.00 to $27.00 in a research note on Wednesday, April 27th. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Achieve Life Sciences in a report on Friday, March 11th.

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. bought a new stake in shares of Achieve Life Sciences in the 1st quarter valued at about $79,000. Raymond James & Associates purchased a new stake in shares of Achieve Life Sciences in the first quarter worth approximately $99,000. BlackRock Inc. increased its position in shares of Achieve Life Sciences by 455.6% during the fourth quarter. BlackRock Inc. now owns 15,207 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 12,470 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Achieve Life Sciences during the fourth quarter valued at approximately $149,000. Finally, LPL Financial LLC increased its position in shares of Achieve Life Sciences by 4.7% during the third quarter. LPL Financial LLC now owns 72,000 shares of the biopharmaceutical company’s stock valued at $612,000 after acquiring an additional 3,200 shares during the last quarter. 37.27% of the stock is owned by hedge funds and other institutional investors.

About Achieve Life Sciences (Get Rating)

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.

See Also