Achieve Life Sciences (NASDAQ:ACHV) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.04 and traded as high as $4.29. Achieve Life Sciences shares last traded at $4.20, with a volume of 281,859 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACHV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Citizens Jmp started coverage on shares of Achieve Life Sciences in a research note on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price objective for the company. Citigroup began coverage on shares of Achieve Life Sciences in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Achieve Life Sciences in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.50.

Achieve Life Sciences Trading Up 1.7%

The firm’s 50-day moving average is $4.77 and its 200 day moving average is $4.04. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $223.57 million, a price-to-earnings ratio of -3.04 and a beta of 1.82.

Institutional Trading of Achieve Life Sciences

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Achieve Life Sciences by 18,747.4% in 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 during the period. Hudson Bay Capital Management LP acquired a new position in Achieve Life Sciences during the 2nd quarter worth about $2,652,000. Simplify Asset Management Inc. grew its position 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 valued at $2,677,000 after buying an additional 966,667 shares during the last quarter. Pathstone Holdings LLC acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at about $1,581,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Achieve Life Sciences in the third quarter valued at about $1,383,000. 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.