What is Zacks Small Cap’s Forecast for ACHV FY2024 Earnings?

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

Several other analysts have also recently issued reports on the company. Rodman & Renshaw assumed coverage on Achieve Life Sciences in a research report on Thursday. They set a “buy” rating and a $12.00 target price on the stock. Raymond James assumed coverage on shares of Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Achieve Life Sciences in a report on Thursday, August 15th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Trading Down 3.1 %

ACHV stock opened at $4.39 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. The company has a market capitalization of $150.97 million, a PE ratio of -3.88 and a beta of 1.57. The firm’s 50-day moving average is $4.72 and its 200 day moving average is $4.76. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $5.98.

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

Hedge Funds Weigh In On Achieve Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Achieve Life Sciences during the 3rd quarter worth about $54,000. Virtu Financial LLC purchased a new stake in Achieve Life Sciences in the first quarter valued at approximately $59,000. The Manufacturers Life Insurance Company acquired a new position in Achieve Life Sciences during the second quarter worth $69,000. MetLife Investment Management LLC boosted its position in shares of Achieve Life Sciences by 65.6% during the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,939 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at $113,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.