Achieve Life Sciences (NASDAQ:ACHV) Announces Earnings Results

Key Points

• Achieve Life Sciences reported a quarterly loss of $0.11 per share, beating the consensus estimate of a $0.20 loss by $0.09.
• Shares fell $0.07 to $6.71 on Tuesday, despite the earnings beat.
• Analysts’ consensus rating is Buy, with a $15.50 average price target; one director also sold 20,626 shares at an average price of $8.49.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.09, Zacks reports.

Achieve Life Sciences Stock Performance

ACHV stock traded down $0.07 on Tuesday, reaching $6.71. 1,089,107 shares of the company were exchanged, compared to its average volume of 1,310,485. Achieve Life Sciences has a 12 month low of $2.62 and a 12 month high of $8.64. The firm has a market capitalization of $689.94 million, a PE ratio of -4.33 and a beta of 2.42. The stock's fifty day moving average price is $7.28 and its 200 day moving average price is $5.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95.

Insider Buying and Selling

In related news, Director Richard Stewart sold 20,626 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the sale, the director owned 208,249 shares in the company, valued at $1,768,034.01. This trade represents a 9.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Stifel Nicolaus set a $18.00 price target on shares of Achieve Life Sciences and gave the stock a "buy" rating in a research report on Tuesday, September 29th. HC Wainwright reaffirmed a "buy" rating on shares of Achieve Life Sciences in a research report on Friday, October 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $15.50.

About Achieve Life Sciences

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.

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