Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above 200 Day Moving Average – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.45 and traded as high as $4.74. Achieve Life Sciences shares last traded at $4.56, with a volume of 1,034,754 shares.

Analyst Upgrades and Downgrades

ACHV has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research note on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. The stock has a market cap of $468.13 million, a P/E ratio of -4.07 and a beta of 2.25. The company’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $4.45.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.11. As a group, equities analysts forecast that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Achieve Life Sciences by 193.9% during the first quarter. Bank of America Corp DE now owns 70,684 shares of the biopharmaceutical company’s stock worth $208,000 after acquiring an additional 46,630 shares in the last quarter. Next Capital Management LLC boosted its holdings in Achieve Life Sciences by 117.0% during the first quarter. Next Capital Management LLC now owns 34,995 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 18,865 shares during the last quarter. Manchester Financial Inc. boosted its holdings in Achieve Life Sciences by 12.1% during the first quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock worth $195,000 after purchasing an additional 7,138 shares during the last quarter. Alpine Global Management LLC acquired a new position in Achieve Life Sciences during the fourth quarter worth $415,000. Finally, KVP Capital Advisors LP acquired a new position in Achieve Life Sciences during the fourth quarter worth $2,298,000. Institutional investors own 33.52% of the company’s stock.

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.