Buy Rating Affirmed: Achieve Life Sciences’ Promising Path to Cytisinicline NDA and Strong Financial Outlook

Maxim Group analyst Jason McCarthy maintained a Buy rating on Achieve Life Sciences (ACHV – Research Report) yesterday and set a price target of $10.00.

Jason McCarthy has given his Buy rating due to a combination of factors centered around Achieve Life Sciences’ progress with cytisinicline, a treatment for smoking cessation. The company’s strategic moves, including a successful financing round and alignment with FDA requirements for an upcoming New Drug Application (NDA), contribute to McCarthy’s confidence. Moreover, Achieve Life Sciences’ fortified financial position with significant cash reserves bolsters the company’s ability to pursue its clinical and regulatory goals into 2026, further cementing the rationale behind the Buy rating.

Additionally, the imminent initiation of the ORCA-OL study, which will provide long-term safety data on cytisinicline, marks a critical step towards NDA submission. This study leverages prior clinical research, potentially expediting the path to regulatory approval. The promising results from previous studies, such as ORCA-2, which met primary and secondary endpoints, underscore the therapeutic’s potential efficacy. McCarthy’s analysis likely incorporates these successes and Achieve Life Sciences’ methodical approach to meeting regulatory milestones, thus justifying the optimistic outlook on the stock.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACHV in relation to earlier this year.

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Achieve Life Sciences (ACHV) Company Description:

Achieve Life Sciences, Inc. is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products, cytisine, is a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.