Achieve Life Sciences (NASDAQ:ACHV) Stock Passes Above 200-Day Moving Average – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares passed 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACHV shares. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research report on Tuesday, June 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Monday, June 22nd. Raymond James Financial initiated coverage on Achieve Life Sciences in a research report on Friday, June 26th. They issued a “strong-buy” rating and a $20.00 price target on the stock. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Canaccord Genuity Group set a $13.00 price objective on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.00.

Achieve Life Sciences Trading Down 1.1%

The company’s 50 day moving average price is $5.61 and its two-hundred day moving average price is $4.82. The firm has a market cap of $626.23 million, a PE ratio of -5.45 and a beta of 2.21. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. As a group, sell-side analysts forecast that Achieve Life Sciences, Inc. will post -0.81 EPS for the current year.

Institutional Trading of Achieve Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in shares of Achieve Life Sciences by 18,747.4% in the 4th quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock valued at $21,715,000 after purchasing an additional 4,346,011 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Achieve Life Sciences in the second quarter worth approximately $2,652,000. Millennium Management LLC raised its stake in Achieve Life Sciences by 472.3% in the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after buying an additional 1,121,614 shares in the last quarter. Pathstone Holdings LLC purchased a new stake in Achieve Life Sciences during the third quarter worth $1,581,000. Finally, KVP Capital Advisors LP bought a new stake in Achieve Life Sciences during the 4th quarter valued at $2,298,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

Achieve Life Sciences Company Profile

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.