Achieve Life Sciences (NASDAQ:ACHV) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.58 and traded as high as $5.21. Achieve Life Sciences shares last traded at $4.99, with a volume of 732,134 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACHV. Citigroup began coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of Achieve Life Sciences in a research report on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Achieve Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Achieve Life Sciences Trading Down 3.9%

The firm has a market capitalization of $265.62 million, a price-to-earnings ratio of -3.62 and a beta of 1.71. The business has a 50-day moving average of $4.63 and a two-hundred day moving average of $3.58. 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 announced its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Research analysts predict that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACHV. Franklin Resources Inc. grew its position in Achieve Life Sciences by 81.3% in the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after purchasing an additional 2,000,079 shares in the last quarter. Simplify Asset Management Inc. lifted its position 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 worth $2,677,000 after buying an additional 966,667 shares in the last quarter. Stonepine Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth about $753,000. Highbridge Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth about $300,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Achieve Life Sciences in the 2nd quarter valued at about $263,000. Institutional investors 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.