Buy Rating Affirmed for Achieve Life Sciences Amid Positive Drug Development Progress and Strong Financial Position

JonesTrading analyst Justin Walsh has reiterated their bullish stance on ACHV stock, giving a Buy rating today.

Justin Walsh has given his Buy rating due to a combination of factors reflecting the positive trajectory of Achieve Life Sciences. The company’s progress with its New Drug Application (NDA) for cytisinicline, a smoking cessation aid, remains on track, indicating a strong potential for market approval. The initiation of the ORCA-OL trial to generate long-term safety data further underscores the company’s commitment to demonstrating the efficacy of cytisinicline. This, combined with the successful recruitment of participants and the presentation of supportive clinical data at a major conference, provides a solid foundation for Walsh’s confidence in the stock.
Furthermore, Achieve Life Sciences has maintained a healthy cash position, which is expected to fund its operations adequately. The anticipation of a key end-of-Phase II meeting with the FDA for their ORCA-V1 trial, targeting vaping cessation, adds to the list of catalysts that could propel the stock forward. Walsh’s $20 price target is indicative of the potential he sees in the company’s pipeline and its ability to successfully navigate the regulatory landscape, making Achieve Life Sciences an attractive investment opportunity.

In another report released today, Oppenheimer also assigned a Buy rating to the stock with a $11.00 price target.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACHV in relation to earlier this year.

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Achieve Life Sciences (ACHV) Company Description:

Achieve Life Sciences, Inc. is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products, cytisine, is a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.