Achieve Life Sciences (NASDAQ:ACHV) Posts Earnings Results, Beats Estimates By $0.07 EPS

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07, Yahoo Finance reports. During the same quarter last year, the business posted ($0.76) EPS.

Achieve Life Sciences Stock Performance

Shares of ACHV opened at $4.44 on Friday. The company has a 50-day simple moving average of $4.79 and a 200-day simple moving average of $3.63. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 15.10. Achieve Life Sciences has a 52 week low of $2.00 and a 52 week high of $8.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its position in Achieve Life Sciences by 48.4% in the fourth quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 48,400 shares in the last quarter. Raymond James & Associates raised its position in Achieve Life Sciences by 412.0% in the fourth quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 71,818 shares in the last quarter. Renaissance Technologies LLC raised its position in Achieve Life Sciences by 57.5% in the second quarter. Renaissance Technologies LLC now owns 39,700 shares of the biopharmaceutical company’s stock worth $194,000 after purchasing an additional 14,500 shares in the last quarter. State Street Corp raised its position in Achieve Life Sciences by 26.9% in the first quarter. State Street Corp now owns 18,731 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 3,970 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in Achieve Life Sciences by 33.2% in the third quarter. Citadel Advisors LLC now owns 35,000 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 8,725 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Achieve Life Sciences Company Profile

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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.