Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.78 and traded as high as $3.17. Achieve Life Sciences shares last traded at $3.08, with a volume of 579,531 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright initiated coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They set a "buy" rating and a $12.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of $14.67.
Read Our Latest Stock Analysis on ACHV
Achieve Life Sciences Stock Performance
The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64. The business has a 50-day moving average price of $2.81 and a 200 day moving average price of $2.78. The stock has a market capitalization of $157.39 million, a P/E ratio of -2.11 and a beta of 1.53.
Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting the consensus estimate of ($0.37). As a group, sell-side analysts forecast that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Mark K. Oki sold 50,060 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.92, for a total value of $146,175.20. Following the transaction, the chief financial officer owned 127,940 shares in the company, valued at $373,584.80. The trade was a 28.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Cindy Jacobs sold 27,629 shares of the company'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 transaction of $76,532.33. Following the completion of the transaction, the chief marketing officer owned 115,585 shares in the company, valued at approximately $320,170.45. This represents a 19.29% decrease in their position. 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 over the last quarter. 3.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Achieve Life Sciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. Franklin Resources Inc. lifted its position in Achieve Life Sciences by 81.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company's stock valued at $10,077,000 after acquiring an additional 2,000,079 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences during the second quarter valued at $2,652,000. Simplify Asset Management Inc. lifted its holdings in shares of Achieve Life Sciences by 443.7% during the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company's stock valued at $2,677,000 after purchasing an additional 966,667 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of Achieve Life Sciences during the second quarter valued at $753,000. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Achieve Life Sciences by 37.4% during the first quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company's stock valued at $2,400,000 after purchasing an additional 244,885 shares in the last quarter. 33.52% of the stock is owned by institutional investors.
About Achieve Life Sciences
(
Get Free Report)
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.
See Also
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