Achieve Life Sciences (NASDAQ:ACHV – Get Rating) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07, Yahoo Finance reports. During the same quarter last year, the firm earned ($0.76) EPS.
Achieve Life Sciences Stock Down 2.0 %
Shares of NASDAQ:ACHV opened at $4.35 on Friday. The firm’s 50 day moving average price is $4.83 and its 200 day moving average price is $3.63. The stock has a market cap of $77.87 million, a price-to-earnings ratio of -1.09 and a beta of 1.44. Achieve Life Sciences has a fifty-two week low of $2.00 and a fifty-two week high of $8.13. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 15.10.
Hedge Funds Weigh In On Achieve Life Sciences
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Achieve Life Sciences by 26.9% during the first quarter. State Street Corp now owns 18,731 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 3,970 shares during the period. Citadel Advisors LLC grew its stake in Achieve Life Sciences by 33.2% in the 3rd quarter. Citadel Advisors LLC now owns 35,000 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 8,725 shares during the period. Prelude Capital Management LLC purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $49,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Achieve Life Sciences during the 1st quarter valued at $79,000. Finally, Morgan Stanley grew its stake in shares of Achieve Life Sciences by 437.4% during the 4th quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 11,026 shares during the period. 21.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Oppenheimer restated an “outperform” rating and set a $17.00 price objective on shares of Achieve Life Sciences in a research report on Friday.
About Achieve Life Sciences
Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products includes cytisine, a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.
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