Brandon Folkes, an analyst from H.C. Wainwright, reiterated 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, primarily his view that the sharp share-price drop reflects an exaggerated perception of regulatory risk rather than a true change in cytisinicline’s approvability. He argues that the FDA’s observations at a third-party manufacturer are confined to CMC and GMP issues, leaving the underlying clinical and regulatory profile of cytisinicline intact.
At the same time, he notes that management is proactively diversifying and de-risking the supply chain by shifting to U.S.-based manufacturing with Adare, while still targeting a first-half 2027 launch. In his view, even a CMC-only complete response letter would ultimately validate approvability and preserve the commercial opportunity in smoking and vaping cessation, making the recent sell-off an attractive entry point with an improved long-term risk/reward profile.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $20.00 price target.