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

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

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

Several equities analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Achieve Life Sciences from $23.00 to $27.00 in a research note on Wednesday, April 27th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price objective on shares of Achieve Life Sciences in a research note on Friday, March 11th.

A number of hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. purchased a new stake in shares of Achieve Life Sciences in the 1st quarter valued at $79,000. Raymond James & Associates purchased a new stake in shares of Achieve Life Sciences in the 1st quarter valued at $99,000. BlackRock Inc. boosted its stake in shares of Achieve Life Sciences by 455.6% in the 4th quarter. BlackRock Inc. now owns 15,207 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 12,470 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Achieve Life Sciences in the 4th quarter valued at $149,000. Finally, LPL Financial LLC boosted its stake in shares of Achieve Life Sciences by 4.7% in the 3rd quarter. LPL Financial LLC now owns 72,000 shares of the biopharmaceutical company’s stock valued at $612,000 after purchasing an additional 3,200 shares in the last quarter. 37.27% of the stock is owned by institutional investors and hedge funds.

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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