Zacks Small Cap Has Negative Outlook of ACHV FY2024 Earnings

Achieve Life Sciences, Inc. (NASDAQ:ACHV) – Stock analysts at Zacks Small Cap reduced their FY2024 earnings per share estimates for shares of Achieve Life Sciences in a report issued on Monday, November 11th. Zacks Small Cap analyst J. Vandermosten now anticipates that the biopharmaceutical company will post earnings of ($1.04) per share for the year, down from their previous estimate of ($0.89). The consensus estimate for Achieve Life Sciences’ current full-year earnings is ($1.17) per share.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). During the same period in the previous year, the firm earned ($0.34) earnings per share.

Several other brokerages have also recently commented on ACHV. Raymond James started coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They issued a “strong-buy” rating and a $20.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a research note on Thursday, August 15th. Finally, Rodman & Renshaw began coverage on Achieve Life Sciences in a research report on Thursday. They set a “buy” rating and a $12.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $14.80.

Achieve Life Sciences Trading Down 3.1 %

Shares of ACHV stock opened at $4.39 on Wednesday. Achieve Life Sciences has a twelve month low of $3.03 and a twelve month high of $5.98. The company has a market capitalization of $150.97 million, a P/E ratio of -3.88 and a beta of 1.57. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.76.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Propel Bio Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter worth $11,149,000. Vanguard Group Inc. raised its holdings in shares of Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock valued at $4,311,000 after buying an additional 342,731 shares during the period. Bank of New York Mellon Corp acquired a new position in Achieve Life Sciences during the 2nd quarter worth approximately $482,000. Rhumbline Advisers purchased a new position in Achieve Life Sciences in the 2nd quarter worth approximately $197,000. Finally, Renaissance Technologies LLC grew its position in Achieve Life Sciences by 134.2% in the second quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 14,360 shares in the last quarter. 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.