Zacks Investment Research cut shares of Achieve Life Sciences (NASDAQ:ACHV) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Achieve Life Sciences Inc. is a pharmaceutical company. It develops and commercializes cytisine treatment to help people battling nicotine addiction. The Company’s product candidates include Custirsen, Apatorsen and OGX-225. Achieve Life Sciences Inc., formerly known as OncoGenex Pharmaceuticals Inc., is based in Bothell, United States. “

Achieve Life Sciences stock opened at $1.26 on Tuesday. Achieve Life Sciences has a 52 week low of $1.04 and a 52 week high of $32.00. The company has a market cap of $8.87 million, a price-to-earnings ratio of -0.06 and a beta of 2.00.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.28) by $0.57. On average, sell-side analysts forecast that Achieve Life Sciences will post -3.8 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of ACHV. Dimensional Fund Advisors LP bought a new position in Achieve Life Sciences during the third quarter valued at approximately $116,000. Renaissance Technologies LLC raised its position in Achieve Life Sciences by 206.3% in the third quarter. Renaissance Technologies LLC now owns 167,061 shares of the biopharmaceutical company’s stock worth $526,000 after acquiring an additional 112,525 shares during the period. Sio Capital Management LLC bought a new position in Achieve Life Sciences in the third quarter worth approximately $523,000. Worth Venture Partners LLC bought a new position in Achieve Life Sciences in the third quarter worth approximately $101,000. Finally, Vanguard Group Inc raised its position in Achieve Life Sciences by 169.3% in the third quarter. Vanguard Group Inc now owns 35,468 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 22,299 shares during the period. Institutional investors own 12.53% of the company’s stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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