H.C. Wainwright analyst Brandon Folkes maintained a Buy rating on Achieve Life Sciences today and set a price target of $12.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight the potential of Achieve Life Sciences’ cytisinicline as a promising smoking cessation therapy. The recent publication of data in Thorax underscores the effectiveness of cytisinicline in improving quit rates among smokers with chronic obstructive pulmonary disease (COPD), a group that has historically seen poor outcomes with existing therapies. The data from the ORCA-2 and ORCA-3 trials show significant improvements in quit rates compared to placebo, reinforcing cytisinicline’s potential as a differentiated treatment option.
Furthermore, the market for smoking cessation products is substantial, with millions of COPD patients in the U.S. alone who continue to smoke. The consistent efficacy across both COPD and non-COPD populations suggests that cytisinicline could become a first-line treatment option, broadening its market appeal. Additionally, the favorable tolerability profile of cytisinicline compared to existing therapies like varenicline enhances its attractiveness to prescribers. These factors, combined with Achieve Life Sciences’ current market capitalization not reflecting its full potential, contribute to the Buy rating and the $12 price target.