Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Achieve Life Sciences' stock price recently surpassed its 200-day moving average, trading as high as $3.10 before closing at $2.92 with a volume of over 1.5 million shares.
• HC Wainwright initiated coverage with a buy rating and a price target of $12.00, contributing to a consensus rating of "Strong Buy" among analysts who project a target price of $14.67.
• The company specializes in developing cytisinicline for smoking cessation, and recently reported earnings per share aligning with estimates at ($0.37) for the last quarter.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.80 and traded as high as $3.10. Achieve Life Sciences shares last traded at $2.92, with a volume of 1,535,786 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright assumed coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They set a "buy" rating and a $12.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $14.67.

Achieve Life Sciences Price Performance

The company has a market capitalization of $161.68 million, a P/E ratio of -2.15 and a beta of 1.30. The firm's fifty day moving average is $2.69 and its 200 day moving average is $2.80. 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 earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting analysts' consensus estimates of ($0.37). As a group, analysts predict that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Achieve Life Sciences by 185.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 4,905 shares in the last quarter. AQR Capital Management LLC bought a new position in Achieve Life Sciences in the 1st quarter worth about $32,000. Sender Co & Partners Inc. bought a new position in Achieve Life Sciences in the 2nd quarter worth about $56,000. Squarepoint Ops LLC bought a new position in Achieve Life Sciences in the 4th quarter worth about $62,000. Finally, Bank of America Corp DE grew its stake in Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 9,617 shares in the last quarter. 33.52% of the stock is currently owned by 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.