Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.94 and traded as high as $4.26. Achieve Life Sciences shares last traded at $4.21, with a volume of 418,963 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on ACHV shares. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Citigroup began coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They set an “outperform” rating on the stock. Citizens Jmp began coverage on shares of Achieve Life Sciences in a research note on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Achieve Life Sciences Stock Performance

The business’s 50-day moving average price is $4.85 and its 200-day moving average price is $3.94. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $224.10 million, a PE ratio of -3.05 and a beta of 1.82.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). As a group, equities research analysts expect that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Institutional Trading of Achieve Life Sciences

A number of institutional investors have recently made changes to their positions in the business. ADAR1 Capital Management LLC increased its position in shares of Achieve Life Sciences by 10.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 4,627 shares during the period. Bank of America Corp DE grew its stake in Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 9,617 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in shares of Achieve Life Sciences by 100.0% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 10,000 shares during the period. AQR Capital Management LLC acquired a new position in shares of Achieve Life Sciences in the first quarter valued at about $32,000. Finally, Next Capital Management LLC purchased a new position in shares of Achieve Life Sciences in the third quarter worth about $51,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.