Achieve Life Sciences (NASDAQ:ACHV) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.75 and traded as high as $4.90. Achieve Life Sciences shares last traded at $4.84, with a volume of 36,588 shares trading hands.

Wall Street Analysts Forecast Growth

ACHV has been the subject of a number of research reports. Raymond James initiated coverage on shares of Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $11.00 target price on shares of Achieve Life Sciences in a research report on Thursday, August 15th.

Achieve Life Sciences Stock Up 2.8 %

The company has a market capitalization of $166.21 million, a PE ratio of -4.36 and a beta of 1.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.56 and a current ratio of 4.56. The stock’s 50 day moving average is $4.64 and its 200 day moving average is $4.75.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the prior year, the firm posted ($0.43) EPS. On average, sell-side analysts anticipate that Achieve Life Sciences, Inc. will post -1.03 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

A number of institutional investors have recently modified their holdings of ACHV. CVI Holdings LLC purchased a new stake in Achieve Life Sciences in the 1st quarter worth approximately $2,578,000. Vanguard Group Inc. lifted its stake in Achieve Life Sciences by 56.6% in the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company’s stock worth $4,311,000 after purchasing an additional 342,731 shares in the last quarter. Virtu Financial LLC purchased a new stake in Achieve Life Sciences in the 1st quarter worth approximately $59,000. Renaissance Technologies LLC lifted its stake in Achieve Life Sciences by 134.2% in the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 14,360 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Achieve Life Sciences in the 2nd quarter worth approximately $69,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

About Achieve Life Sciences

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.