Achieve Life Sciences (NASDAQ:ACHV) Share Price Passes Above 200 Day Moving Average – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.79 and traded as high as $5.61. Achieve Life Sciences shares last traded at $5.42, with a volume of 852,108 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACHV. Citigroup assumed coverage on Achieve Life Sciences in a research note on Tuesday, November 25th. They issued an “outperform” rating for the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Finally, Citizens Jmp started coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.50.

Achieve Life Sciences Stock Down 1.3%

The firm has a 50 day simple moving average of $4.79 and a two-hundred day simple moving average of $3.79. The stock has a market capitalization of $288.51 million, a P/E ratio of -3.93 and a beta of 1.71. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 0.26.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly 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). On average, equities research analysts expect that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC raised its holdings in 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 buying an additional 4,627 shares during the last quarter. Bank of America Corp DE increased its position in Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 9,617 shares during the period. AQR Capital Management LLC bought a new position in shares of Achieve Life Sciences during the first quarter valued at $32,000. Next Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the third quarter worth $51,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Achieve Life Sciences during the third quarter worth $63,000. 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.