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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.94 and traded as high as $4.26. Achieve Life Sciences shares last traded at $4.21, with a volume of 418,963 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACHV shares. Citigroup assumed coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Citizens Jmp assumed 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. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research 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 analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.50.

Achieve Life Sciences Price Performance

The stock has a 50 day moving average of $4.85 and a 200-day moving average of $3.94. 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 $224.10 million, a P/E ratio of -3.05 and a beta of 1.82.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, equities research analysts anticipate that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Achieve Life Sciences by 100.0% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 10,000 shares during the period. Members Wealth LLC bought a new stake in Achieve Life Sciences during the 4th quarter valued at $153,000. Bank of America Corp DE raised its position in Achieve Life Sciences by 40.6% during the 3rd quarter. Bank of America Corp DE now owns 47,409 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 13,678 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Achieve Life Sciences by 54.7% in the 3rd quarter. Raymond James Financial Inc. now owns 456,372 shares of the biopharmaceutical company’s stock worth $1,438,000 after buying an additional 161,314 shares during the period. Finally, ADAR1 Capital Management LLC grew its position in shares of 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 buying an additional 4,627 shares in the last quarter. Institutional investors own 33.52% of the company’s stock.

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.