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

Achieve Life Sciences (NASDAQ:ACHV) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09, Zacks reports.

Achieve Life Sciences Stock Down 1.1%

Shares of Achieve Life Sciences stock traded down $0.07 on Tuesday, reaching $6.71. The company’s stock had a trading volume of 1,089,107 shares, compared to its average volume of 1,310,485. Achieve Life Sciences has a 52 week low of $2.62 and a 52 week high of $8.64. The firm’s fifty day simple moving average is $7.28 and its two-hundred day simple moving average is $5.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $689.94 million, a price-to-earnings ratio of -4.33 and a beta of 2.42.

Insider Transactions at Achieve Life Sciences

In related news, Director Richard Stewart sold 20,626 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the transaction, the director owned 208,249 shares in the company, valued at $1,768,034.01. This represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACHV shares. Wall Street Zen cut Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. Raymond James Financial restated a “strong-buy” rating and set a $18.00 target price on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Morgan Stanley assumed coverage on Achieve Life Sciences in a research note on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price target for the company. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Finally, Stifel Nicolaus set a $18.00 price objective on shares of Achieve Life Sciences and gave the company a “buy” rating in a research report on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Achieve Life Sciences has an average rating of “Buy” and a consensus price target of $15.50.

About Achieve Life Sciences

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.