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

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

Achieve Life Sciences stock opened at $6.64 on Friday. Achieve Life Sciences has a fifty-two week low of $5.62 and a fifty-two week high of $10.40. The firm’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $7.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 9.80 and a current ratio of 9.80.

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. bought a new stake in Achieve Life Sciences in the first quarter worth about $79,000. Raymond James & Associates bought a new stake in Achieve Life Sciences in the first quarter worth about $99,000. BlackRock Inc. raised its position in Achieve Life Sciences by 455.6% in the fourth quarter. BlackRock Inc. now owns 15,207 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 12,470 shares during the period. Citadel Advisors LLC bought a new stake in Achieve Life Sciences in the fourth quarter worth about $149,000. Finally, LPL Financial LLC raised its position in Achieve Life Sciences by 4.7% in the third quarter. LPL Financial LLC now owns 72,000 shares of the biopharmaceutical company’s stock worth $612,000 after acquiring an additional 3,200 shares during the period. 37.27% of the stock is currently owned by institutional investors and hedge funds.

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

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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