Achieve Life Sciences, Inc. (NASDAQ:ACHV – Get Rating) – Research analysts at Zacks Small Cap issued their Q2 2023 earnings estimates for Achieve Life Sciences in a research note issued to investors on Wednesday, May 10th. Zacks Small Cap analyst J. Vandermosten forecasts that the biopharmaceutical company will earn ($0.40) per share for the quarter. The consensus estimate for Achieve Life Sciences’ current full-year earnings is ($1.94) per share. Zacks Small Cap also issued estimates for Achieve Life Sciences’ Q3 2023 earnings at ($0.37) EPS, Q4 2023 earnings at ($0.32) EPS, FY2023 earnings at ($1.59) EPS and FY2024 earnings at ($1.64) EPS.
Achieve Life Sciences (NASDAQ:ACHV – Get Rating) last announced its earnings results on Thursday, March 16th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. During the same quarter last year, the firm posted ($0.76) EPS.
Other analysts have also recently issued research reports about the stock. Maxim Group increased their price target on shares of Achieve Life Sciences from $8.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Oppenheimer reissued an “outperform” rating and issued a $17.00 price objective on shares of Achieve Life Sciences in a research report on Friday, March 17th.
Achieve Life Sciences Stock Performance
Shares of ACHV opened at $8.22 on Monday. The stock has a market capitalization of $148.30 million, a price-to-earnings ratio of -2.19 and a beta of 1.52. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $6.71 and a 200 day simple moving average of $4.63. Achieve Life Sciences has a 12 month low of $2.00 and a 12 month high of $10.30.
Institutional Investors Weigh In On Achieve Life Sciences
A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in Achieve Life Sciences by 75.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 1,570 shares during the period. HRT Financial LP acquired a new stake in Achieve Life Sciences during the 4th quarter worth approximately $32,000. Morgan Stanley raised its holdings in Achieve Life Sciences by 437.4% during the 4th quarter. Morgan Stanley now owns 13,547 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 11,026 shares during the last quarter. Prelude Capital Management LLC bought a new position in Achieve Life Sciences during the 2nd quarter worth approximately $49,000. Finally, Jane Street Group LLC bought a new position in Achieve Life Sciences during the 3rd quarter worth approximately $53,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.
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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