Shares of Achieve Life Sciences Inc (NASDAQ:ACHV) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.76 and traded as high as $1.93. Achieve Life Sciences shares last traded at $1.90, with a volume of 36,066 shares trading hands.

Several brokerages recently issued reports on ACHV. LADENBURG THALM/SH SH reissued a “buy” rating and set a $20.00 price target on shares of Achieve Life Sciences in a report on Friday, August 9th. Maxim Group set a $6.00 price target on shares of Achieve Life Sciences and gave the company a “buy” rating in a report on Friday, August 9th. Finally, ValuEngine raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The stock has a market capitalization of $15.07 million, a P/E ratio of -0.52 and a beta of 2.07. The firm’s fifty day moving average is $1.85 and its 200-day moving average is $2.76. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.02.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.17). Equities research analysts expect that Achieve Life Sciences Inc will post -1.6 EPS for the current year.

In related news, CEO Richard Alistair Stewart bought 17,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $3.61 per share, with a total value of $63,175.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Armistice Capital Master Fund bought 12,813 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $3.80 per share, with a total value of $48,689.40. The disclosure for this purchase can be found here. Insiders own 6.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sio Capital Management LLC grew its position in shares of Achieve Life Sciences by 24.4% during the 2nd quarter. Sio Capital Management LLC now owns 524,413 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 102,934 shares during the period. Renaissance Technologies LLC grew its position in shares of Achieve Life Sciences by 12.5% during the 2nd quarter. Renaissance Technologies LLC now owns 321,268 shares of the biopharmaceutical company’s stock worth $620,000 after buying an additional 35,607 shares during the period. Vanguard Group Inc. grew its position in shares of Achieve Life Sciences by 152.2% during the 2nd quarter. Vanguard Group Inc. now owns 274,519 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 165,667 shares during the period. Searle & CO. grew its position in shares of Achieve Life Sciences by 80.4% during the 2nd quarter. Searle & CO. now owns 132,592 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 59,092 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth approximately $32,000. 15.66% of the stock is owned by institutional investors.

About Achieve Life Sciences (NASDAQ:ACHV)

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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