Achieve Life Sciences (NASDAQ:ACHV) Issues Earnings Results, Beats Estimates By $0.09 EPS

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.09, MarketWatch Earnings reports. During the same quarter last year, the firm posted ($1.30) EPS.

Shares of Achieve Life Sciences stock opened at $6.64 on Friday. The firm’s fifty day simple moving average is $7.24 and its 200-day simple moving average is $7.52. The company has a quick ratio of 9.80, a current ratio of 9.80 and a debt-to-equity ratio of 0.53. Achieve Life Sciences has a 12 month low of $5.62 and a 12 month high of $10.40.

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

Institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Achieve Life Sciences by 59.0% in the second quarter. Morgan Stanley now owns 139,200 shares of the biopharmaceutical company’s stock valued at $1,250,000 after buying an additional 51,654 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Achieve Life Sciences by 51.0% in the third quarter. Geode Capital Management LLC now owns 85,554 shares of the biopharmaceutical company’s stock valued at $727,000 after purchasing an additional 28,885 shares during the period. Citadel Advisors LLC acquired a new position in shares of Achieve Life Sciences in the fourth quarter valued at approximately $149,000. Raymond James & Associates acquired a new position in shares of Achieve Life Sciences in the first quarter valued at approximately $99,000. Finally, BlackRock Inc. increased its holdings in shares of Achieve Life Sciences by 455.6% in the fourth quarter. BlackRock Inc. now owns 15,207 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 12,470 shares during the period. 37.27% of the stock is currently owned by institutional investors.

Achieve Life Sciences Company Profile (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.

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