Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.51 and traded as high as $4.48. Achieve Life Sciences shares last traded at $4.44, with a volume of 197,590 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citizens Jmp assumed coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 target price on the stock. Citigroup assumed coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating for the company. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Achieve Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $15.50.

Achieve Life Sciences Trading Down 1.1%

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 capitalization of $236.34 million, a price-to-earnings ratio of -3.22 and a beta of 1.69. The business has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $3.51.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, equities analysts predict that Achieve Life Sciences, Inc. will post -1.17 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 ACHV. ADAR1 Capital Management LLC boosted its position in Achieve Life Sciences by 10.7% during the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 4,627 shares during the period. Bank of America Corp DE grew its holdings 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 in the last quarter. AQR Capital Management LLC purchased a new stake in Achieve Life Sciences during the 1st quarter worth $32,000. Next Capital Management LLC purchased a new position in Achieve Life Sciences in the 3rd quarter valued at about $51,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the third quarter valued at about $63,000. 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.