Achieve Life Sciences (NASDAQ:ACHV) Stock Crosses Above Two Hundred Day Moving Average of $4.47

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.47 and traded as high as $4.78. Achieve Life Sciences shares last traded at $4.53, with a volume of 93,710 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jonestrading started coverage on shares of Achieve Life Sciences in a research report on Wednesday, April 17th. They issued a “buy” rating and a $20.00 price objective for the company. Lake Street Capital lowered their target price on shares of Achieve Life Sciences from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Finally, Oppenheimer restated an “outperform” rating and set a $18.00 price target on shares of Achieve Life Sciences in a research report on Monday, April 1st.

Achieve Life Sciences Trading Down 3.7 %

The company has a debt-to-equity ratio of 4.02, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $155.15 million, a P/E ratio of -2.96 and a beta of 1.26. The stock has a 50-day moving average price of $4.51 and a 200-day moving average price of $4.47.

Achieve Life Sciences (NASDAQ:ACHV) last announced its earnings results on Thursday, March 28th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.06. On average, equities research analysts expect that Achieve Life Sciences, Inc. will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in Achieve Life Sciences by 6.3% during the third quarter. Raymond James & Associates now owns 146,100 shares of the biopharmaceutical company’s stock valued at $628,000 after purchasing an additional 8,615 shares in the last quarter. Manchester Financial Inc. increased its position in shares of Achieve Life Sciences by 43.9% during the 3rd quarter. Manchester Financial Inc. now owns 18,600 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 5,675 shares during the last quarter. Madison Park Capital Advisors LLC purchased a new position in shares of Achieve Life Sciences during the 4th quarter valued at about $41,000. Finally, CVI Holdings LLC bought a new stake in Achieve Life Sciences in the 1st quarter worth approximately $2,578,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.