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

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) posted its quarterly 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 last year, the firm earned ($0.76) EPS.

Achieve Life Sciences Stock Down 2.0 %

ACHV stock traded down $0.09 during mid-day trading on Friday, hitting $4.35. The stock had a trading volume of 249,203 shares, compared to its average volume of 108,829. Achieve Life Sciences has a 1-year low of $2.00 and a 1-year high of $8.13. The company has a fifty day moving average of $4.83 and a 200 day moving average of $3.63. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 15.10. The stock has a market capitalization of $77.87 million, a price-to-earnings ratio of -1.09 and a beta of 1.44.

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 research report on Friday.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its position in Achieve Life Sciences by 48.4% during the fourth 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. Raymond James & Associates lifted its stake in shares of Achieve Life Sciences by 412.0% in the 4th quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 71,818 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Achieve Life Sciences by 57.5% in the 2nd quarter. Renaissance Technologies LLC now owns 39,700 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 14,500 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Achieve Life Sciences by 33.2% in the third quarter. Citadel Advisors LLC now owns 35,000 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 8,725 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Achieve Life Sciences during the fourth quarter worth $75,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

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.