Achieve Life Sciences (NASDAQ:ACHV) Releases Earnings Results, Hits Estimates

Key Points

• Achieve Life Sciences reported a quarterly EPS of ($0.37), missing analyst expectations by $0.03.
• Following the earnings announcement, Achieve Life Sciences stock fell 5.3% to $2.50.
• Institutional ownership of the company stands at 33.52%, with AQR Capital Management recently acquiring a stake valued at approximately $32,000.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.37), Zacks reports.

Achieve Life Sciences Trading Up 3.1%

ACHV stock traded up $0.08 during midday trading on Wednesday, reaching $2.52. 80,207 shares of the company traded hands, compared to its average volume of 515,439. Achieve Life Sciences has a 52-week low of $1.84 and a 52-week high of $5.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64. The business has a 50 day moving average of $2.84 and a 200-day moving average of $2.83. The firm has a market capitalization of $87.25 million, a price-to-earnings ratio of -1.70 and a beta of 1.30.

Institutional Investors Weigh In On Achieve Life Sciences

A hedge fund recently bought a new stake in Achieve Life Sciences stock. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,802 shares of the biopharmaceutical company's stock, valued at approximately $32,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.