In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Achieve Life Sciences (ACHV – Research Report), with a price target of $10.00.
Jason McCarthy’s rating is based on Achieve Life Sciences’ promising progress in its clinical trials and regulatory submissions. The company is advancing its ORCA-OL long-term exposure study for cytisinicline, which is crucial for their new drug application. The initial phase of this study has been completed, and if the results are favorable, Achieve plans to submit the NDA by the end of the second quarter of 2025. Additionally, the company is preparing for a Phase 3 study for vaping cessation, which could further expand its market reach.
Moreover, Achieve Life Sciences has strengthened its leadership team with the appointment of Mark Oki as CFO, who brings extensive experience in financial leadership within the biotechnology and pharmaceutical sectors. His background in raising capital through various financial transactions is expected to support the company’s strategic initiatives. The positive safety data from ongoing trials and the strategic alignment with the FDA further reinforce the potential for successful regulatory approval and market expansion, justifying the Buy rating.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.