Achieve Life Sciences (NASDAQ:ACHV) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.48 and traded as high as $4.39. Achieve Life Sciences shares last traded at $4.32, with a volume of 585,831 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACHV shares. Citigroup assumed coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Monday, December 15th. Finally, Citizens Jmp assumed coverage on Achieve Life Sciences in a research note on Tuesday, November 25th. They issued 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 given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, 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 market capitalization of $229.95 million, a PE ratio of -3.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.14 and a quick ratio of 5.14. The stock’s fifty day moving average is $4.53 and its 200-day moving average is $3.47.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data 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). As a group, equities analysts predict that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds have recently bought and sold shares of ACHV. ADAR1 Capital Management LLC increased its position in shares of Achieve Life Sciences by 10.7% in the third quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 4,627 shares in the last quarter. Bank of America Corp DE grew 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 valued at $76,000 after acquiring an additional 9,617 shares during the period. AQR Capital Management LLC purchased a new stake in Achieve Life Sciences in the 1st quarter worth $32,000. Next Capital Management LLC acquired a new position in Achieve Life Sciences during the third quarter worth $51,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Achieve Life Sciences during the third quarter worth $63,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.