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

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.95 and traded as high as $5.07. Achieve Life Sciences shares last traded at $4.68, with a volume of 1,252,946 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ACHV shares. HC Wainwright started coverage on Achieve Life Sciences in a research note on Thursday, August 21st. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Achieve Life Sciences Trading Down 6.4%

The stock has a market cap of $239.15 million, a P/E ratio of -3.21 and a beta of 1.58. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $3.30 and a two-hundred day moving average price of $2.95.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). On average, research analysts expect that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Insider Activity at Achieve Life Sciences

In related news, Director Thomas Braxton King sold 139,858 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $387,406.66. Following the completion of the transaction, the director owned 315,142 shares in the company, valued at $872,943.34. The trade was a 30.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark K. Oki sold 50,060 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $2.92, for a total value of $146,175.20. Following the transaction, the chief financial officer owned 127,940 shares of the company’s stock, valued at approximately $373,584.80. The trade was a 28.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 381,972 shares of company stock worth $1,084,997 over the last quarter. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Achieve Life Sciences

A number of large investors have recently bought and sold shares of ACHV. Franklin Resources Inc. boosted its holdings in Achieve Life Sciences by 81.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after acquiring an additional 2,000,079 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences during the 2nd quarter worth $2,652,000. Simplify Asset Management Inc. grew its position in shares of Achieve Life Sciences by 443.7% during the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after buying an additional 966,667 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of Achieve Life Sciences during the 2nd quarter worth $753,000. Finally, Nantahala Capital Management LLC grew its position in shares of Achieve Life Sciences by 37.4% during the 1st quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock worth $2,400,000 after buying an additional 244,885 shares in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.