Achieve Life Sciences (NASDAQ:ACHV) Share Price Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• ACHV shares broke above their 200-day moving average, reaching $7.13 before closing around $6.97, although the price remained below its 50-day moving average of $7.62.
• Analysts remain broadly optimistic, with an average rating of “Buy” and an average price target of $15.50; ratings include two Strong Buys, six Buys, and one Sell.
• The company reported a larger-than-expected quarterly loss of $0.80 per share versus an expected loss of $0.16, while institutional investors own 33.52% of the stock and an insider recently sold 20,626 shares.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.03 and traded as high as $7.13. Achieve Life Sciences shares last traded at $6.97, with a volume of 1,197,519 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $18.00 target price on shares of Achieve Life Sciences in a report on Wednesday, August 12th. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. UBS Group reissued a "buy" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Stifel Nicolaus set a $18.00 price target on shares of Achieve Life Sciences and gave the stock a "buy" rating in a research report on Tuesday, September 29th. Finally, Morgan Stanley assumed coverage on shares of Achieve Life Sciences in a research report on Thursday, August 13th. They set an "overweight" rating and a $13.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.50.

Achieve Life Sciences Stock Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $717.21 million, a price-to-earnings ratio of -4.50 and a beta of 2.30. The firm has a fifty day moving average of $7.62 and a 200 day moving average of $6.03.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). As a group, sell-side analysts forecast that Achieve Life Sciences, Inc. will post -0.92 EPS for the current year.

Insider Activity

In other news, Director Richard Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the transaction, the director owned 208,249 shares in the company, valued at $1,768,034.01. The trade was a 9.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACHV. Frazier Life Sciences Management L.P. acquired a new stake in Achieve Life Sciences during the second quarter worth about $49,725,000. venBio Partners LLC purchased a new position in Achieve Life Sciences during the second quarter worth about $38,623,122. BlackRock Inc. purchased a new position in Achieve Life Sciences during the second quarter worth about $34,426,000. Jupiter Topco LLC acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $17,964,000. Finally, Alyeska Investment Group L.P. acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $12,575,000. Institutional investors and hedge funds own 33.52% of the company's stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc is a biopharmaceutical company focused on developing and commercializing cytisinicline, a plant-based investigational therapy intended to help adults quit smoking and address nicotine addiction. Cytisinicline is designed to act on nicotinic acetylcholine receptors in the brain, potentially reducing nicotine cravings and withdrawal symptoms while helping limit the satisfaction associated with smoking.

The company's primary development program is aimed at securing regulatory approval for cytisinicline in the United States.

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