Achieve Life Sciences (NASDAQ:ACHV) Stock Passes Above 200 Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyShares of Achieve Life Sciences, Inc. (NASDAQ:ACHV – Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.88 and traded as high as $6.80. Achieve Life Sciences shares last traded at $6.67, with a volume of 891,091 shares traded.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ACHV. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday. Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the company a “buy” rating in a report on Monday, April 20th. 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. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $18.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.50.
Read Our Latest Stock Report on ACHV
Achieve Life Sciences Price Performance
The company has a market cap of $686.79 million, a price-to-earnings ratio of -5.97 and a beta of 2.24. The company has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $4.89. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87.
Achieve Life Sciences (NASDAQ:ACHV – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). As a group, equities research analysts anticipate that Achieve Life Sciences, Inc. will post -0.81 EPS for the current fiscal year.
Hedge Funds Weigh In On Achieve Life Sciences
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Achieve Life Sciences in the second quarter valued at about $34,426,000. Franklin Resources Inc. boosted its holdings in Achieve Life Sciences by 18,747.4% during the fourth 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. Vanguard Group Inc. boosted its holdings in Achieve Life Sciences by 14.5% during the third 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 in the last quarter. Millennium Management LLC grew its stake in shares of Achieve Life Sciences by 472.3% in the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock valued at $6,755,000 after purchasing an additional 1,121,614 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Achieve Life Sciences in the 2nd quarter valued at $2,652,000. 33.52% of the stock is owned by institutional investors.
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.