Achieve Life Sciences (NASDAQ:ACHV) Releases Earnings Results, Misses Expectations By $0.64 EPS

Achieve Life Sciences (NASDAQ:ACHV) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64), FiscalAI reports.

Achieve Life Sciences Trading Up 1.5%

Shares of ACHV stock opened at $6.77 on Wednesday. The business’s fifty day moving average price is $6.00 and its 200 day moving average price is $4.89. The firm has a market capitalization of $695.01 million, a PE ratio of -6.04 and a beta of 2.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. Achieve Life Sciences has a 1-year low of $2.37 and a 1-year high of $7.11.

Analysts Set New Price Targets

A number of analysts have weighed in on ACHV shares. Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday, June 23rd. Raymond James Financial began coverage on Achieve Life Sciences in a research report on Friday, June 26th. They set a “strong-buy” rating and a $20.00 target price on the stock. Finally, Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Achieve Life Sciences in the 1st quarter valued at about $32,000. Sender Co & Partners Inc. purchased a new position in Achieve Life Sciences in the second quarter valued at about $56,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the 4th quarter valued at approximately $64,000. Bank of America Corp DE lifted its position in shares of Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 9,617 shares during the period. Finally, HRT Financial LP purchased a new stake in shares of Achieve Life Sciences during the 4th quarter worth approximately $93,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Achieve Life Sciences Company Profile

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.