Achieve Life Sciences (NASDAQ:ACHV) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.76 and traded as high as $5.15. Achieve Life Sciences shares last traded at $5.00, with a volume of 115,731 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACHV. Raymond James began coverage on shares of Achieve Life Sciences in a research note on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Achieve Life Sciences in a report on Thursday, August 15th.

Achieve Life Sciences Price Performance

The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.21. The company has a market cap of $158.99 million, a P/E ratio of -4.17 and a beta of 1.57. The firm has a 50 day moving average of $4.70 and a 200-day moving average of $4.76.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period in the previous year, the company posted ($0.43) EPS. On average, equities research analysts predict that Achieve Life Sciences, Inc. will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Achieve Life Sciences in the 3rd quarter worth approximately $54,000. Virtu Financial LLC purchased a new position in shares of Achieve Life Sciences in the 1st quarter worth $59,000. The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences in the 2nd quarter worth about $69,000. Renaissance Technologies LLC lifted its holdings in shares of Achieve Life Sciences by 134.2% in the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 14,360 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Achieve Life Sciences in the second quarter worth about $197,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.