Achieve Life Sciences (NASDAQ:ACHV) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Achieve Life Sciences' share price recently rose above its 200-day moving average, reaching a high of $3.19 and last trading at $3.17 with a volume of 468,292 shares.
• Analysts have a mixed outlook with an average rating of "Moderate Buy" and a price target of $12.00, but Weiss Ratings has reaffirmed a "sell (d-)" rating.
• Recent insider trading activity saw significant sales, with Director Thomas Braxton King selling 139,858 shares, reflecting a 30.74% decrease in his position.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.81 and traded as high as $3.19. Achieve Life Sciences shares last traded at $3.17, with a volume of 468,292 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ACHV. HC Wainwright began coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They issued a "buy" rating and a $12.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.00.

Achieve Life Sciences Stock Up 2.3%

The business's fifty day moving average price is $2.95 and its 200 day moving average price is $2.81. The company has a market capitalization of $162.00 million, a P/E ratio of -2.17 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.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting analysts' consensus estimates of ($0.37). As a group, equities research analysts predict that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Achieve Life Sciences

In related news, Director Thomas Braxton King sold 139,858 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $2.77, for a total transaction of $387,406.66. Following the completion of the sale, the director owned 315,142 shares in the company, valued at $872,943.34. This trade represents a 30.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark K. Oki sold 50,060 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $2.92, for a total transaction of $146,175.20. Following the sale, the chief financial officer owned 127,940 shares of the company's stock, valued at $373,584.80. This trade represents a 28.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 381,972 shares of company stock worth $1,084,997 in the last ninety days. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 9,617 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the 1st quarter worth about $32,000. Manchester Financial Inc. increased its position in shares of Achieve Life Sciences by 90.8% during the 2nd quarter. Manchester Financial Inc. now owns 46,224 shares of the biopharmaceutical company's stock worth $104,000 after purchasing an additional 22,000 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $56,000. Finally, Shay Capital LLC increased its position in shares of Achieve Life Sciences by 10.1% during the 2nd quarter. Shay Capital LLC now owns 292,647 shares of the biopharmaceutical company's stock worth $661,000 after purchasing an additional 26,913 shares in the last quarter. Institutional investors and hedge funds 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.

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