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

Key Points

• ACHV shares crossed above their 200-day moving average, reaching $6.61 before closing at $6.49, compared with the $6.16 long-term average.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $15.50 target price, although ratings range from “Strong Buy” to “Sell.”
• Achieve Life Sciences reported a quarterly loss of $0.80 per share, missing the $0.16 consensus estimate, while a director recently sold 20,626 shares at an average price of $8.49.

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 $6.16 and traded as high as $6.61. Achieve Life Sciences shares last traded at $6.49, with a volume of 590,136 shares trading hands.

Analysts Set New Price Targets

ACHV has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Raymond James Financial restated a "strong-buy" rating and set a $18.00 price target on shares of Achieve Life Sciences in a report on Wednesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday, August 13th. They issued an "overweight" rating and a $13.00 price objective for the company. Finally, Stifel Nicolaus set a $18.00 price objective on Achieve Life Sciences and gave the stock a "buy" rating in a report on Tuesday, September 29th. Two 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. Based on data from MarketBeat.com, Achieve Life Sciences has a consensus rating of "Buy" and a consensus target price of $15.50.

Achieve Life Sciences Stock Performance

The company has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $6.16. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $667.82 million, a P/E ratio of -4.19 and a beta of 2.30.

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

Insiders Place Their Bets

In related news, Director Richard Stewart sold 20,626 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total value of $175,114.74. Following the sale, the director directly owned 208,249 shares of the company's stock, valued at $1,768,034.01. This represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Achieve Life Sciences

A number of hedge funds have recently modified their holdings of ACHV. Legal & General Group Plc purchased a new stake in shares of Achieve Life Sciences in the 2nd quarter worth about $49,000. SLT Holdings LLC bought a new position in shares of Achieve Life Sciences in the 3rd quarter worth about $89,000. Magnolia Capital Advisors LLC purchased a new position in Achieve Life Sciences during the 2nd quarter valued at about $99,000. The Manufacturers Life Insurance Company purchased a new position in Achieve Life Sciences during the 2nd quarter valued at about $135,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Achieve Life Sciences during the 2nd quarter valued at about $163,000. Institutional investors own 33.52% of the company's stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.

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