Achieve Life Sciences (NASDAQ:ACHV) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Achieve Life Sciences (NASDAQ:ACHV) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01), FiscalAI reports.

Achieve Life Sciences Stock Up 1.3%

ACHV stock opened at $4.05 on Tuesday. The stock has a market capitalization of $215.58 million, a price-to-earnings ratio of -2.93 and a beta of 1.81. The company has a 50-day moving average of $4.54 and a two-hundred day moving average of $4.31. Achieve Life Sciences has a 52-week low of $1.84 and a 52-week high of $6.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.14 and a quick ratio of 5.14.

Analysts Set New Price Targets

ACHV has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Citizens Jmp began coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 price objective on the stock. Finally, Citigroup initiated coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Hedge Funds Weigh In On Achieve Life Sciences

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in Achieve Life Sciences by 18,747.4% during the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after buying an additional 4,346,011 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Achieve Life Sciences by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock valued at $7,755,000 after buying an additional 311,925 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Achieve Life Sciences by 472.3% during the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after acquiring an additional 1,121,614 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at about $2,652,000. Finally, Marshall Wace LLP increased its stake in Achieve Life Sciences by 31.5% in the fourth quarter. Marshall Wace LLP now owns 1,019,281 shares of the biopharmaceutical company’s stock valued at $5,066,000 after acquiring an additional 244,428 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.