Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Achieve Life Sciences (ACHV – Research Report) today and set a price target of $30.00.
Michael Higgins has given his Buy rating due to a combination of factors including the promising clinical results of Achieve Life Sciences’s smoking cessation therapy, cytisinicline, and the recent agreement with the FDA on the ORCA-OL trial design. Cytisinicline has demonstrated high efficacy and safety in previous Phase 2 and Phase 3 trials, which is significant as it shows potential superiority over existing FDA-approved therapies for nicotine addiction. Higgins also notes the sizable market opportunity, with tens of millions of American smokers attempting to quit multiple times in their lifetime, presenting a substantial patient population for Achieve’s product.
The financial strength of Achieve Life Sciences, bolstered by a successful funding round, also underpins Higgins’s Buy recommendation. The company has secured substantial capital, which is expected to fund operations well into the future, reducing the need for additional financing. This financial stability, coupled with the anticipated high efficacy of cytisinicline over a 52-week period, as opposed to the current 12-week standard, leads Higgins to project increased market share and elevate the price target. Moreover, the potential for cytisinicline to be used in multiple treatment courses could further drive its market penetration and value, thus contributing to the positive outlook and Buy rating for ACHV stock.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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:
