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

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07, Yahoo Finance reports. During the same quarter last year, the business earned ($0.76) earnings per share.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $4.35 on Friday. The company has a debt-to-equity ratio of 15.10, a current ratio of 3.03 and a quick ratio of 3.03. The firm has a market capitalization of $77.87 million, a price-to-earnings ratio of -1.09 and a beta of 1.44. The company’s fifty day moving average is $4.83 and its two-hundred day moving average is $3.63. Achieve Life Sciences has a 52-week low of $2.00 and a 52-week high of $8.13.

Institutional Trading of Achieve Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of ACHV. Raymond James & Associates grew its position in Achieve Life Sciences by 412.0% in the 4th quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 71,818 shares during the last quarter. LPL Financial LLC boosted its position in shares of 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 in the last quarter. Millennium Management LLC acquired a new stake in shares of Achieve Life Sciences during the 4th quarter valued at about $75,000. Jane Street Group LLC acquired a new stake in shares of Achieve Life Sciences during the 3rd quarter valued at about $53,000. Finally, Renaissance Technologies LLC boosted its position in shares of Achieve Life Sciences by 57.5% during the 2nd quarter. Renaissance Technologies LLC now owns 39,700 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 14,500 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Oppenheimer reiterated an “outperform” rating and issued a $17.00 target price on shares of Achieve Life Sciences in a research note 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.