Achieve Life Sciences (NASDAQ:ACHV) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.24 and traded as high as $4.37. Achieve Life Sciences shares last traded at $4.14, with a volume of 530,131 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACHV shares. Citizens Jmp started coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Finally, Citigroup started coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Achieve Life Sciences Price Performance

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 business’s 50-day simple moving average is $4.70 and its two-hundred day simple moving average is $4.24. The firm has a market cap of $220.37 million, a price-to-earnings ratio of -3.00 and a beta of 1.81.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Achieve Life Sciences by 18,747.4% in the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock valued at $21,715,000 after buying an additional 4,346,011 shares during the period. Hudson Bay Capital Management LP bought a new stake in Achieve Life Sciences during the second quarter valued at $2,652,000. Millennium Management LLC grew its holdings in Achieve Life Sciences by 472.3% during the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after acquiring an additional 1,121,614 shares during the period. Pathstone Holdings LLC acquired a new stake in Achieve Life Sciences during the 3rd quarter worth about $1,581,000. Finally, KVP Capital Advisors LP bought a new position in shares of Achieve Life Sciences in the 4th quarter worth about $2,298,000. 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.