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

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.76 and traded as high as $5.15. Achieve Life Sciences shares last traded at $5.00, with a volume of 115,731 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACHV shares. Raymond James began coverage on Achieve Life Sciences in a report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $11.00 price target on shares of Achieve Life Sciences in a report on Thursday, August 15th.

Achieve Life Sciences Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.56 and a current ratio of 4.56. The firm has a fifty day simple moving average of $4.70 and a 200 day simple moving average of $4.76. The company has a market capitalization of $158.99 million, a PE ratio of -4.17 and a beta of 1.57.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period last year, the company earned ($0.43) earnings per share. Equities analysts anticipate that Achieve Life Sciences, Inc. will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds have recently modified their holdings of ACHV. SG Americas Securities LLC bought a new position in Achieve Life Sciences in the third quarter worth approximately $54,000. The Manufacturers Life Insurance Company purchased a new position in shares of Achieve Life Sciences in the 2nd quarter valued at $69,000. Renaissance Technologies LLC lifted its stake in shares of Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 14,360 shares during the last quarter. Rhumbline Advisers bought a new stake in Achieve Life Sciences during the second quarter valued at about $197,000. Finally, Bank of New York Mellon Corp bought a new stake in Achieve Life Sciences during the second quarter valued at about $482,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.