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

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07, Yahoo Finance reports. During the same quarter in the prior year, the company posted ($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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC grew its position in Achieve Life Sciences by 48.4% in the 4th quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 48,400 shares during the last quarter. 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. 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. State Street Corp boosted its position in shares of Achieve Life Sciences by 26.9% during the 1st quarter. State Street Corp now owns 18,731 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 3,970 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of Achieve Life Sciences by 33.2% during the 3rd quarter. Citadel Advisors LLC now owns 35,000 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 8,725 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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