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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09, Zacks reports.

Achieve Life Sciences Stock Down 1.1%

Shares of NASDAQ:ACHV traded down $0.07 during trading on Wednesday, reaching $6.71. 1,089,107 shares of the stock were exchanged, compared to its average volume of 1,357,099. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95. Achieve Life Sciences has a 1-year low of $2.62 and a 1-year high of $8.64. The stock has a fifty day moving average of $7.26 and a two-hundred day moving average of $5.69. The firm has a market cap of $689.94 million, a price-to-earnings ratio of -4.33 and a beta of 2.42.

Wall Street Analyst Weigh In

A number of research firms have commented on ACHV. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Wednesday, August 19th. HC Wainwright reiterated a “buy” rating on shares of Achieve Life Sciences in a report on Friday, October 23rd. Wall Street Zen cut shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.50.

Insider Activity

In related news, Director Richard Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the sale, the director owned 208,249 shares of the company’s stock, valued at approximately $1,768,034.01. This trade represents a 9.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

About Achieve Life Sciences

Achieve Life Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for nicotine dependence. Its lead candidate, cytisinicline, is an oral medication being studied to help people stop smoking and quit using nicotine-containing products, including e-cigarettes. Cytisinicline is a plant-derived compound that acts on nicotinic receptors in the brain. Achieve is evaluating it in clinical trials; it is not an approved commercial product. The company’s development efforts have focused primarily on the U.S. market.