Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Achieve Life Sciences. The associated price target remains the same with $10.00.
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Jason McCarthy’s rating is based on Achieve Life Sciences’ recent strategic and financial developments. The company has made significant progress with its lead product, cytisinicline, by submitting a New Drug Application (NDA) for smoking cessation treatment, supported by positive data from pivotal Phase 3 studies. This submission is a critical milestone, as it demonstrates the drug’s efficacy and long-term safety, which are key factors for FDA approval.
Additionally, Achieve Life Sciences has strengthened its financial position through a $45 million equity financing, which is expected to support the potential commercial launch of cytisinicline. The strategic partnership with Omnicom to develop an AI-enabled launch strategy further enhances the company’s readiness for market entry. These factors, combined with ongoing studies to expand cytisinicline’s indications, underpin McCarthy’s optimistic outlook and Buy rating for Achieve Life Sciences.
According to TipRanks, McCarthy is an analyst with an average return of -21.2% and a 26.81% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Capricor Therapeutics, and SELLAS Life Sciences Group.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $20.00 price target.