Achieve Life Sciences (NASDAQ:ACHV) Posts Earnings Results, Beats Estimates By $0.07 EPS

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.07, Yahoo Finance reports. During the same quarter in the previous year, the firm earned ($0.76) EPS.

Achieve Life Sciences Stock Performance

ACHV stock traded down $0.09 during mid-day trading on Friday, hitting $4.35. The company had a trading volume of 249,203 shares, compared to its average volume of 108,829. Achieve Life Sciences has a 12 month low of $2.00 and a 12 month high of $8.13. The stock’s fifty day moving average price is $4.83 and its two-hundred day moving average price is $3.63. 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 debt-to-equity ratio of 15.10, a quick ratio of 3.03 and a current ratio of 3.03.

Hedge Funds Weigh In On Achieve Life Sciences

Several institutional investors have recently bought and sold shares of ACHV. Millennium Management LLC bought a new stake in shares of Achieve Life Sciences in the fourth quarter valued at $75,000. Morgan Stanley raised its holdings in Achieve Life Sciences by 437.4% during the 4th quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 11,026 shares during the period. HRT Financial LP bought a new stake in Achieve Life Sciences during the 4th quarter valued at $32,000. Raymond James & Associates raised 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 valued at $219,000 after acquiring an additional 71,818 shares during the period. Finally, LPL Financial LLC raised its holdings in Achieve Life Sciences by 48.4% during the 4th quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock valued at $363,000 after acquiring an additional 48,400 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Maxim Group restated a “buy” rating and issued a $8.00 target price on shares of Achieve Life Sciences in a research note on Friday. Oppenheimer reissued an “outperform” rating and issued a $17.00 price objective on shares of Achieve Life Sciences in a research report on Friday.

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.