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

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

NASDAQ ACHV opened at $6.64 on Friday. The company’s fifty day simple moving average is $7.24 and its 200-day simple moving average is $7.52. 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 52 week low of $5.62 and a 52 week high of $10.40.

Hedge funds have recently made changes to their positions in the company. LPL Financial LLC grew its holdings in Achieve Life Sciences by 4.7% during the 3rd quarter. LPL Financial LLC now owns 72,000 shares of the biopharmaceutical company’s stock worth $612,000 after acquiring an additional 3,200 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Achieve Life Sciences in the 1st quarter worth about $79,000. BlackRock Inc. lifted its position 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 worth $119,000 after buying an additional 12,470 shares during the last quarter. Raymond James & Associates bought a new position in shares of Achieve Life Sciences in the 1st quarter worth about $99,000. Finally, Citadel Advisors LLC bought a new position in shares of Achieve Life Sciences in the 4th quarter worth about $149,000. Institutional investors and hedge funds own 37.27% of the company’s stock.

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

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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