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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.04 and traded as high as $4.29. Achieve Life Sciences shares last traded at $4.20, with a volume of 281,859 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ACHV shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Citizens Jmp began coverage on shares of Achieve Life Sciences in a research note on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price objective for the company. Citigroup initiated coverage on shares of Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. One research 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 company has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Achieve Life Sciences Stock Up 1.0%

The stock’s 50-day moving average price is $4.76 and its two-hundred day moving average price is $4.05. 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 $225.70 million, a P/E ratio of -3.07 and a beta of 1.82.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC purchased a new stake in Achieve Life Sciences during the first quarter valued at about $32,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Achieve Life Sciences in the second quarter valued at approximately $263,000. Simplify Asset Management Inc. lifted its stake in shares of Achieve Life Sciences by 443.7% during the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after buying an additional 966,667 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at approximately $300,000. Finally, Franklin Resources Inc. boosted its holdings in Achieve Life Sciences by 81.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after buying an additional 2,000,079 shares during the period. 33.52% of the stock is currently owned by 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.