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

Key Points

• Achieve Life Sciences (NASDAQ:ACHV) stock recently crossed above its 200-day moving average, trading as high as $3.24 before settling at $3.16.
• Analysts have set a consensus target price of $12.00 for Achieve Life Sciences, with ratings ranging from "Strong Buy" to "Sell."
• Insider trading activity has seen executives selling a combined 381,972 shares in the last 90 days, reducing their ownership in the company.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.79 and traded as high as $3.24. Achieve Life Sciences shares last traded at $3.16, with a volume of 474,172 shares.

Analysts Set New Price Targets

Several analysts have recently commented on ACHV shares. HC Wainwright started coverage on Achieve Life Sciences in a research report on Thursday, August 21st. They issued a "buy" rating and a $12.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Achieve Life Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Achieve Life Sciences Trading Up 0.3%

The company has a market cap of $161.48 million, a price-to-earnings ratio of -2.16 and a beta of 1.58. The company's 50 day moving average price is $2.87 and its 200 day moving average price is $2.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64.

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

Insider Activity at Achieve Life Sciences

In other news, CMO Cindy Jacobs sold 27,629 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $76,532.33. Following the transaction, the chief marketing officer owned 115,585 shares of the company's stock, valued at approximately $320,170.45. This represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jaime Xinos sold 20,854 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $2.77, for a total value of $57,765.58. Following the completion of the sale, the insider owned 74,432 shares of the company's stock, valued at approximately $206,176.64. This trade represents a 21.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 381,972 shares of company stock worth $1,084,997 in the last 90 days. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. Nantahala Capital Management LLC raised its holdings in Achieve Life Sciences by 37.4% in the 1st quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company's stock worth $2,400,000 after acquiring an additional 244,885 shares during the period. Bank of America Corp DE grew its position in shares of Achieve Life Sciences by 37.0% in the fourth quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock valued at $127,000 after purchasing an additional 9,760 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Achieve Life Sciences in the fourth quarter worth about $62,000. XTX Topco Ltd acquired a new position in shares of Achieve Life Sciences during the 1st quarter worth about $99,000. Finally, Nuveen LLC acquired a new position in shares of Achieve Life Sciences during the 1st quarter worth about $125,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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