Achieve Life Sciences (NASDAQ:ACHV) Shares Pass Above 200 Day Moving Average – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.11 and traded as high as $4.55. Achieve Life Sciences shares last traded at $4.39, with a volume of 430,401 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACHV shares. Citigroup assumed coverage on shares of 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 note 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 began coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 target price on the stock. 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’s stock. According to MarketBeat.com, Achieve Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Achieve Life Sciences Price Performance

The business’s 50-day moving average price is $4.73 and its 200 day moving average price is $4.11. The company has a market capitalization of $233.68 million, a P/E ratio of -3.18 and a beta of 1.82. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC bought a new position in Achieve Life Sciences in the 1st quarter worth about $32,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Achieve Life Sciences during the 2nd quarter worth $263,000. Simplify Asset Management Inc. grew its position in Achieve Life Sciences by 443.7% in the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after acquiring an additional 966,667 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Achieve Life Sciences in the second quarter worth $300,000. Finally, Franklin Resources Inc. increased its stake 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 acquiring an additional 2,000,079 shares during the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.