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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $6.16 and traded as high as $6.61. Achieve Life Sciences shares last traded at $6.49, with a volume of 590,136 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACHV shares. Raymond James Financial restated a “strong-buy” rating and set a $18.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Stifel Nicolaus set a $18.00 target price on Achieve Life Sciences and gave the company a “buy” rating in a report on Tuesday, September 29th. Wall Street Zen downgraded Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Finally, UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.50.

Achieve Life Sciences Stock Performance

The stock’s 50-day moving average is $7.57 and its 200-day moving average is $6.16. The firm has a market capitalization of $667.83 million, a price-to-earnings ratio of -4.19 and a beta of 2.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.64). On average, analysts predict that Achieve Life Sciences, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity at Achieve Life Sciences

In related news, Director Richard Stewart sold 20,626 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the sale, the director owned 208,249 shares of the company’s stock, valued at $1,768,034.01. This trade represents a 9.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of ACHV. Frazier Life Sciences Management L.P. acquired a new stake in shares of Achieve Life Sciences during the second quarter valued at about $49,725,000. venBio Partners LLC bought a new stake in shares of Achieve Life Sciences during the second quarter worth about $38,623,122. Spruce Street Capital LP bought a new stake in shares of Achieve Life Sciences during the second quarter worth about $4,810,240. Bank of America Corp DE acquired a new position in shares of Achieve Life Sciences in the second quarter valued at approximately $1,209,000. Finally, Wellington Management Group LLP acquired a new position in shares of Achieve Life Sciences in the second quarter valued at approximately $9,318,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.