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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.51 and traded as high as $4.48. Achieve Life Sciences shares last traded at $4.44, with a volume of 197,590 shares.

Analyst Upgrades and Downgrades

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

Achieve Life Sciences Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.14 and a current ratio of 5.14. The business has a 50-day moving average price of $4.62 and a 200 day moving average price of $3.53. The stock has a market capitalization of $264.55 million, a P/E ratio of -3.60 and a beta of 1.69.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). As a group, sell-side analysts forecast that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Achieve Life Sciences by 81.3% during the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after acquiring an additional 2,000,079 shares in the last quarter. Vanguard Group Inc. boosted its stake in Achieve Life Sciences by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock valued at $7,755,000 after purchasing an additional 311,925 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in shares of Achieve Life Sciences by 443.7% in the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after purchasing an additional 966,667 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Achieve Life Sciences in the second quarter worth $2,652,000. Finally, Pathstone Holdings LLC bought a new position in shares of Achieve Life Sciences during the third quarter valued at $1,581,000. 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.