Maxim Group analyst Jason McCarthy maintained a Buy rating on Achieve Life Sciences yesterday and set a price target of $10.00.
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Jason McCarthy has given his Buy rating due to a combination of factors, including Achieve’s strengthened financial position and advancing clinical program. The recent $354M private financing, with $180M received upfront and the rest in milestone-linked warrants, materially extends the company’s runway to support cytisinicline through potential U.S. approval and a new Phase 3 trial targeting e‑cigarette and vaping dependence.
The company has also refreshed its leadership team and board ahead of the anticipated launch, while preparing for an NDA resubmission in 4Q26 after addressing the manufacturing-related CRL. Cytisinicline’s robust Phase 3 ORCA-2 and ORCA-3 data, showing materially higher quit rates versus placebo with a favorable safety profile, underpin his confidence that the drug can be approved and successfully commercialized, supporting the unchanged $10 price target.
McCarthy covers the Healthcare sector, focusing on stocks such as Moleculin Biotech, Medicus Pharma Ltd, and Plus Therapeutics. According to TipRanks, McCarthy has an average return of -14.2% and a 32.87% success rate on recommended stocks.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.