Achieve Life Sciences (NASDAQ:ACHV) Issues Earnings Results, Beats Estimates By $0.09 EPS

Achieve Life Sciences (NASDAQ:ACHV) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09, Zacks reports.

Achieve Life Sciences Trading Down 1.1%

Shares of ACHV stock traded down $0.07 on Tuesday, hitting $6.71. 1,089,107 shares of the company’s stock traded hands, compared to its average volume of 1,310,485. The company’s fifty day simple moving average is $7.28 and its 200 day simple moving average is $5.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.95. Achieve Life Sciences has a one year low of $2.62 and a one year high of $8.64. The stock has a market capitalization of $689.94 million, a price-to-earnings ratio of -4.33 and a beta of 2.42.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley assumed coverage on Achieve Life Sciences in a research note on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price target for the company. HC Wainwright restated a “buy” rating on shares of Achieve Life Sciences in a report on Friday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Stifel Nicolaus set a $18.00 price target on Achieve Life Sciences and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen downgraded shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.50.

Insider Transactions at Achieve Life Sciences

In related news, Director Richard Stewart sold 20,626 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the transaction, the director owned 208,249 shares in the company, valued at $1,768,034.01. This represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.