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

Key Points

• ACHV shares crossed above their 200-day moving average, reaching $8.11 and last trading at $7.91, compared with a 200-day average of $5.54.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $15.00 price target, despite some “Sell” and “Strong Sell” ratings.
• The company reported a significant quarterly EPS miss of $0.80 loss versus the expected $0.16 loss, while an insider recently sold 20,626 shares at an average price of $8.49.

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.54 and traded as high as $8.11. Achieve Life Sciences shares last traded at $7.91, with a volume of 1,871,086 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ACHV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Wednesday, August 19th. HC Wainwright restated a "buy" rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Morgan Stanley initiated coverage on Achieve Life Sciences in a research report on Thursday, August 13th. They set an "overweight" rating and a $13.00 target price on the stock. Wall Street Zen cut Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Finally, UBS Group reissued a "buy" rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $15.00.

Achieve Life Sciences Stock Performance

The stock has a market capitalization of $813.94 million, a PE ratio of -5.10 and a beta of 2.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average price of $7.14 and a 200-day moving average price of $5.54.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). Research analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling at Achieve Life Sciences

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

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in Achieve Life Sciences during the second quarter worth about $49,000. Jefferies Financial Group Inc. purchased a new position in Achieve Life Sciences during the fourth quarter valued at approximately $84,000. Magnolia Capital Advisors LLC acquired a new position in Achieve Life Sciences in the second quarter valued at approximately $99,000. Next Capital Management LLC lifted its holdings in Achieve Life Sciences by 117.0% in the first quarter. Next Capital Management LLC now owns 34,995 shares of the biopharmaceutical company's stock valued at $103,000 after acquiring an additional 18,865 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Achieve Life Sciences in the 2nd quarter worth approximately $135,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

About Achieve Life Sciences

Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company focused on developing and commercializing cytisinicline, an investigational therapy designed to help adults stop smoking and address nicotine dependence. The company is listed on the Nasdaq Capital Market under the symbol ACHV.

Cytisinicline is a plant-derived small molecule that acts on neuronal nicotinic acetylcholine receptors involved in nicotine addiction. Achieve is evaluating the therapy in clinical studies for smoking cessation and potential support for quitting other forms of nicotine use.

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