Achieve Life Sciences (NASDAQ:ACHV) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s share price 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.

Wall Street Analysts Forecast Growth

ACHV has been the topic of a number of recent analyst reports. Citizens Jmp initiated coverage on shares of 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. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Citigroup began coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. One analyst has 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. Based on data from MarketBeat, Achieve Life Sciences has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Achieve Life Sciences Price Performance

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

Achieve Life Sciences (NASDAQ:ACHV) last announced 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). As a group, sell-side analysts expect that Achieve Life Sciences, Inc. will post -1.17 EPS for the current year.

Institutional Trading of Achieve Life Sciences

Several institutional investors have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC bought a new position in Achieve Life Sciences during the 1st quarter worth $32,000. Next Capital Management LLC acquired a new position in shares of Achieve Life Sciences in the third quarter valued at about $51,000. Sender Co & Partners Inc. bought a new position in Achieve Life Sciences during the second quarter worth about $56,000. OneDigital Investment Advisors LLC acquired a new stake in Achieve Life Sciences in the 3rd quarter worth about $63,000. Finally, Bank of America Corp DE raised its stake 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 worth $76,000 after purchasing an additional 9,617 shares in the last quarter. 33.52% of the stock is currently owned by institutional investors.

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.