Achieve Life Sciences (NASDAQ:ACHV) Shares Pass Above 200 Day Moving Average of $4.40

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.40 and traded as high as $4.58. Achieve Life Sciences shares last traded at $4.38, with a volume of 63,124 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target on shares of Achieve Life Sciences in a research report on Monday, April 1st. Jonestrading started coverage on Achieve Life Sciences in a report on Wednesday. They set a “buy” rating and a $20.00 price target on the stock. Finally, Lake Street Capital lowered their price objective on Achieve Life Sciences from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th.

Achieve Life Sciences Price Performance

The firm has a market cap of $156.53 million, a P/E ratio of -2.99 and a beta of 1.32. The firm’s fifty day simple moving average is $4.42 and its 200 day simple moving average is $4.40. The company has a debt-to-equity ratio of 4.02, a quick ratio of 0.82 and a current ratio of 0.82.

Institutional Trading of Achieve Life Sciences

Large investors have recently added to or reduced their stakes in the company. Manchester Financial Inc. raised its position in shares of Achieve Life Sciences by 43.9% during the 3rd quarter. Manchester Financial Inc. now owns 18,600 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 5,675 shares in the last quarter. Raymond James & Associates raised its position in Achieve Life Sciences by 6.3% during the third quarter. Raymond James & Associates now owns 146,100 shares of the biopharmaceutical company’s stock valued at $628,000 after purchasing an additional 8,615 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Achieve Life Sciences in the 1st quarter valued at approximately $79,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Achieve Life Sciences in the 1st quarter valued at approximately $79,000. Finally, XTX Topco Ltd purchased a new position in shares of Achieve Life Sciences in the 2nd quarter worth approximately $77,000. 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 in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.