Achieve Life Sciences, Inc. Forecasted to Earn Q2 2024 Earnings of ($0.21) Per Share (NASDAQ:ACHV)

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Free Report) - Stock analysts at Zacks Small Cap issued their Q2 2024 earnings per share estimates for shares of Achieve Life Sciences in a note issued to investors on Monday, May 13th. Zacks Small Cap analyst J. Vandermosten expects that the biopharmaceutical company will post earnings per share of ($0.21) for the quarter. The consensus estimate for Achieve Life Sciences' current full-year earnings is ($1.05) per share. Zacks Small Cap also issued estimates for Achieve Life Sciences' Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.20) EPS and FY2024 earnings at ($0.85) EPS.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.06.

A number of other research analysts have also recently issued reports on ACHV. Jonestrading initiated coverage on Achieve Life Sciences in a research note on Wednesday, April 17th. They set a "buy" rating and a $20.00 price objective on the stock. Oppenheimer reduced their price target on Achieve Life Sciences from $18.00 to $11.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Lake Street Capital lowered their price objective on Achieve Life Sciences from $19.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, March 5th.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV traded up $0.20 during trading hours on Wednesday, reaching $5.21. The company's stock had a trading volume of 233,511 shares, compared to its average volume of 93,710. The firm has a market capitalization of $178.91 million, a price-to-earnings ratio of -4.04 and a beta of 1.26. The firm has a 50-day simple moving average of $4.55 and a 200-day simple moving average of $4.50. Achieve Life Sciences has a 1 year low of $3.03 and a 1 year high of $8.37.

Institutional Trading of Achieve Life Sciences

A number of institutional investors have recently modified their holdings of the company. Manchester Financial Inc. raised its position in Achieve Life Sciences by 43.9% during the 3rd quarter. Manchester Financial Inc. now owns 18,600 shares of the biopharmaceutical company's stock valued at $80,000 after purchasing an additional 5,675 shares during the last quarter. Raymond James & Associates boosted its holdings in Achieve Life Sciences by 6.3% in the third quarter. Raymond James & Associates now owns 146,100 shares of the biopharmaceutical company's stock valued at $628,000 after acquiring an additional 8,615 shares in the last quarter. Madison Park Capital Advisors LLC purchased a new position in Achieve Life Sciences during the 4th quarter valued at $41,000. Vanguard Group Inc. raised its stake in Achieve Life Sciences by 56.6% in the first quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company's stock worth $4,311,000 after buying an additional 342,731 shares in the last quarter. Finally, CVI Holdings LLC bought a new position in shares of Achieve Life Sciences in the 1st quarter worth approximately $2,578,000. 33.52% of the stock is currently 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 in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.