Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above 200 Day Moving Average – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.45 and traded as high as $4.74. Achieve Life Sciences shares last traded at $4.56, with a volume of 1,034,754 shares traded.

Analysts Set New Price Targets

ACHV has been the subject of several recent research reports. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a report on Thursday, April 16th. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $14.67.

Achieve Life Sciences Price Performance

The company has a market capitalization of $468.13 million, a P/E ratio of -4.07 and a beta of 2.25. The company’s 50-day moving average price is $4.12 and its two-hundred day moving average price is $4.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. As a group, sell-side analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

Several large investors have recently modified their holdings of ACHV. Franklin Resources Inc. raised its position in shares of 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 bought a new position in shares of Achieve Life Sciences in the second quarter valued at about $2,652,000. Millennium Management LLC raised its position in shares of 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 valued at $6,755,000 after purchasing an additional 1,121,614 shares during the period. Pathstone Holdings LLC bought a new position in Achieve Life Sciences during the third quarter worth about $1,581,000. Finally, KVP Capital Advisors LP acquired a new stake in Achieve Life Sciences in the 4th quarter worth about $2,298,000. 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.