Achieve Life Sciences (NASDAQ:ACHV) Releases Earnings Results, Misses Estimates By $0.12 EPS

Achieve Life Sciences (NASDAQ:ACHV) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12), Zacks reports.

Achieve Life Sciences Trading Up 0.7%

Shares of ACHV opened at $6.71 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87. The stock has a market cap of $689.36 million, a PE ratio of -5.99 and a beta of 2.24. Achieve Life Sciences has a 1 year low of $2.37 and a 1 year high of $7.11. The stock has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $4.88.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACHV. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research report on Monday, June 22nd. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a research report on Tuesday, June 23rd. Finally, Raymond James Financial started coverage on Achieve Life Sciences in a report on Friday, June 26th. They set a “strong-buy” rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.00.

Institutional Trading of Achieve Life Sciences

A number of large investors have recently bought and sold shares of ACHV. KVP Capital Advisors LP bought a new position in shares of Achieve Life Sciences during the fourth quarter valued at $2,298,000. Millennium Management LLC grew its holdings in shares of Achieve Life Sciences by 472.3% in the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Achieve Life Sciences during the 4th quarter worth about $104,000. Osaic Holdings Inc. increased its position in shares of Achieve Life Sciences by 89.9% during the 4th quarter. Osaic Holdings Inc. now owns 53,983 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 25,550 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Achieve Life Sciences during the 4th quarter worth about $212,000. 33.52% of the stock is currently owned by institutional investors.

About Achieve Life Sciences

Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.