Achieve Life Sciences (ACHV) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Achieve Life Sciences (NASDAQ:ACHV) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Achieve Life Sciences Inc. is a pharmaceutical company. It develops and commercializes cytisine treatment to help people battling nicotine addiction. The Company’s product candidates include Custirsen, Apatorsen and OGX-225. Achieve Life Sciences Inc., formerly known as OncoGenex Pharmaceuticals Inc., is based in Bothell, United States. “

Shares of ACHV stock opened at $1.23 on Tuesday. The company has a market cap of $8.87 million, a P/E ratio of -0.06 and a beta of 2.00. Achieve Life Sciences has a 12 month low of $1.04 and a 12 month high of $32.00.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.28) by $0.57. As a group, research analysts predict that Achieve Life Sciences will post -3.8 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. Dimensional Fund Advisors LP purchased a new stake in Achieve Life Sciences in the 3rd quarter worth approximately $116,000. Renaissance Technologies LLC lifted its stake in Achieve Life Sciences by 206.3% in the 3rd quarter. Renaissance Technologies LLC now owns 167,061 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 112,525 shares in the last quarter. Sio Capital Management LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth approximately $523,000. Worth Venture Partners LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth approximately $101,000. Finally, Vanguard Group Inc lifted its stake in Achieve Life Sciences by 169.3% in the 3rd quarter. Vanguard Group Inc now owns 35,468 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 22,299 shares in the last quarter. Institutional investors and hedge funds own 12.53% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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