Brandon Folkes, an analyst from H.C. Wainwright, maintained the Buy rating on Achieve Life Sciences. The associated price target remains the same with $12.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight Achieve Life Sciences’ potential in addressing the unmet need in vaping addiction. The recent receipt of an FDA Commissioner’s National Priority Voucher for cytisinicline underscores the urgency and importance of developing treatments for nicotine vaping addiction. This voucher is expected to expedite the review process, potentially accelerating the drug’s market entry and enhancing its commercial prospects.
Moreover, cytisinicline’s promising results in previous trials, where it significantly improved quit rates among e-cigarette users compared to placebo, further support its potential effectiveness. The drug’s unique mechanism of action, which targets nicotine withdrawal symptoms and reduces the rewarding effects of nicotine, positions it well for success in this growing market. Achieve’s strategic agreement with the FDA for a Phase 3 study and the potential ‘halo effect’ on smoking cessation applications also contribute to the optimistic outlook, justifying the Buy rating and the $12 price target for ACHV shares.