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

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) released its earnings results on Thursday. The biopharmaceutical company reported ($0.83) earnings per share (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) earnings per share.

Achieve Life Sciences Trading Down 2.0 %

Shares of ACHV stock opened at $4.35 on Friday. The stock has a market cap of $77.87 million, a price-to-earnings ratio of -1.09 and a beta of 1.44. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 15.10. Achieve Life Sciences has a fifty-two week low of $2.00 and a fifty-two week high of $8.13. The firm’s 50 day moving average price is $4.83 and its two-hundred day moving average price is $3.63.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC lifted 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 buying an additional 48,400 shares in the last quarter. Raymond James & Associates lifted its position in shares of Achieve Life Sciences by 412.0% during the fourth 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Achieve Life Sciences by 57.5% during the second quarter. Renaissance Technologies LLC now owns 39,700 shares of the biopharmaceutical company’s stock worth $194,000 after purchasing an additional 14,500 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Achieve Life Sciences by 33.2% during 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 shares of Achieve Life Sciences during the fourth quarter worth $75,000. 21.11% of the stock is 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.