Achieve Life Sciences (NASDAQ:ACHV) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.09, MarketWatch Earnings reports. During the same quarter last year, the firm earned ($1.30) EPS.

Shares of ACHV stock opened at $6.64 on Friday. The company has a quick ratio of 9.80, a current ratio of 9.80 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $7.24 and its two-hundred day simple moving average is $7.52. Achieve Life Sciences has a 52 week low of $5.62 and a 52 week high of $10.40.

A number of equities research analysts have commented on the stock. Oppenheimer raised their price target on shares of Achieve Life Sciences from $23.00 to $27.00 in a report on Wednesday, April 27th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Achieve Life Sciences in a report on Friday, March 11th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Achieve Life Sciences by 4.7% in the third quarter. LPL Financial LLC now owns 72,000 shares of the biopharmaceutical company’s stock worth $612,000 after purchasing an additional 3,200 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Achieve Life Sciences in the first quarter worth about $79,000. BlackRock Inc. increased its stake in shares of Achieve Life Sciences by 455.6% in the fourth quarter. BlackRock Inc. now owns 15,207 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 12,470 shares in the last quarter. Raymond James & Associates purchased a new position in shares of Achieve Life Sciences in the first quarter worth about $99,000. Finally, Citadel Advisors LLC purchased a new position in Achieve Life Sciences during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 37.27% of the company’s stock.

About Achieve Life Sciences (Get Rating)

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes of cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.

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