Achieve Life Sciences (NASDAQ:ACHV) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.82 and traded as high as $6.36. Achieve Life Sciences shares last traded at $6.10, with a volume of 927,000 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ACHV shares. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research note on Monday, June 22nd. Finally, Raymond James Financial initiated coverage on shares of Achieve Life Sciences in a report on Friday, June 26th. They issued a “strong-buy” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.00.

Achieve Life Sciences Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. The stock has a 50 day simple moving average of $5.61 and a two-hundred day simple moving average of $4.82. The company has a market cap of $626.23 million, a price-to-earnings ratio of -5.45 and a beta of 2.21.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. On average, equities research analysts predict that Achieve Life Sciences, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Achieve Life Sciences by 193.9% during the first quarter. Bank of America Corp DE now owns 70,684 shares of the biopharmaceutical company’s stock worth $208,000 after purchasing an additional 46,630 shares during the period. Next Capital Management LLC grew its stake in shares of Achieve Life Sciences by 117.0% in the 1st quarter. Next Capital Management LLC now owns 34,995 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 18,865 shares during the period. Manchester Financial Inc. increased its holdings in shares of Achieve Life Sciences by 12.1% during the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 7,138 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of Achieve Life Sciences during the 4th quarter worth approximately $415,000. Finally, KVP Capital Advisors LP purchased a new stake in shares of Achieve Life Sciences during the 4th quarter valued at approximately $2,298,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.