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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.40 and traded as high as $4.40. Achieve Life Sciences shares last traded at $4.38, with a volume of 467,452 shares trading hands.

Wall Street Analysts Forecast Growth

ACHV has been the subject of several analyst reports. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the company a “buy” rating in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $14.67.

Achieve Life Sciences Stock Down 0.2%

The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $233.15 million, a PE ratio of -3.37 and a beta of 2.25. The firm has a 50-day moving average of $3.92 and a two-hundred day moving average of $4.40.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, equities research analysts forecast that Achieve Life Sciences, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in ACHV. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the 1st quarter valued at $32,000. Qube Research & Technologies Ltd acquired a new stake in Achieve Life Sciences during the 2nd quarter valued at $232,000. Raymond James Financial Inc. raised its stake in Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after purchasing an additional 107,218 shares during the period. Jane Street Group LLC acquired a new stake in Achieve Life Sciences during the 2nd quarter valued at $159,000. Finally, Bank of America Corp DE raised its stake in Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 9,617 shares during the period. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.