In a report released yesterday, Justin Walsh from JonesTrading maintained a Buy rating on Achieve Life Sciences (ACHV – Research Report), with a price target of $20.00.
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Justin Walsh has given his Buy rating due to a combination of factors including the promising results from Achieve Life Sciences’ recent ORCA-OL trial. The Data Safety Monitoring Committee found no unexpected adverse events, indicating a consistent safety profile for cytisinicline. This bodes well for the company’s planned NDA submission for smoking cessation in the second quarter of 2025.
Furthermore, Walsh sees strong market potential for cytisinicline, estimating peak risk-adjusted net sales of around $560 million in the U.S. This figure could represent a significant portion of the company’s future revenue. Achieve Life Sciences’ solid cash position, which is expected to fund operations into the second half of 2025, also contributes to the positive outlook. Additionally, the valuation model supporting the $20 price target incorporates a robust probability of success for cytisinicline in both smoking and e-cigarette cessation.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $11.00 price target.