Achieve Life Sciences (ACHV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Higgins from Ladenburg Thalmann & Co. remains neutral on the stock and has a $35.00 price target.
Michael Higgins’ Buy rating for Achieve Life Sciences is primarily based on the company’s promising developments and results in the field of smoking cessation treatments. Higgins recognizes the potential of Achieve’s main product, cytisinicline, a plant-based alkaloid with a high affinity for the same receptor targeted by Chantix, a leading smoking cessation aid. Cytisinicline has been successfully used in Eastern Europe for decades and Achieve is now developing it as a prescription treatment in America, with positive results in various Phase 2 and 3 trials. Furthermore, the company has managed to identify an optimized dosing regimen, which further enhances the prospects of this treatment.
The company recently reported financial results for the third quarter of 2023 that were better than forecasted, with a lower operational expenditure. Additionally, the firm has been engaged in encouraging discussions with potential global partners interested in cytisinicline. The year 2023 marked significant milestones for Achieve with two late-stage clinical readouts on cytisinicline, including the first evidence of a successful treatment for nicotine vapers. The company is also making progress with its New Drug Application (NDA) filing, with discussions with the FDA underway and some components expected to be finalized soon. Furthermore, Achieve reported superior results from its second pivotal Phase 3 trial, demonstrating cytisinicline’s efficacy in smoking cessation. All these factors contribute to Higgins’ positive outlook for Achieve Life Sciences.
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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.
Read More on ACHV:
- ACHV Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Achieve Life Sciences Announces Participation at Upcoming Investor Conferences
- Achieve Life Sciences Announces Presentation of Cytisinicline E-Cigarette Cessation (ORCA-V1) Results at Society for Research on Nicotine and Tobacco Europe (SRNT-E) Annual Meeting
- Achieve Life Sciences announces presentation of ORCA-V1 trial results
