Achieve Life Sciences (NASDAQ:ACHV) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.11 and traded as high as $4.55. Achieve Life Sciences shares last traded at $4.39, with a volume of 430,401 shares.

Analyst Ratings Changes

ACHV has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Citigroup assumed coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Citizens Jmp started 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Achieve Life Sciences Trading Up 4.0%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.14 and a current ratio of 5.14. The firm has a 50-day moving average of $4.73 and a 200-day moving average of $4.11. The firm has a market capitalization of $233.68 million, a P/E ratio of -3.18 and a beta of 1.82.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Achieve Life Sciences by 81.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after buying an additional 2,000,079 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Achieve Life Sciences by 14.5% during the third quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock worth $7,755,000 after purchasing an additional 311,925 shares during the period. Millennium Management LLC boosted its holdings in shares of Achieve Life Sciences by 472.3% during the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares during the period. Simplify Asset Management Inc. increased its holdings in Achieve Life Sciences by 443.7% during the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after purchasing an additional 966,667 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in Achieve Life Sciences during the 2nd quarter valued at about $2,652,000. 33.52% of the stock is currently owned by institutional investors.

About Achieve Life Sciences

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.