Six Flags stock rises after appointing John Reilly as new CEO
Investing.com - Raymond James has reiterated a Strong Buy rating and $20.00 price target on Achieve Life Sciences (NASDAQ:ACHV), citing the company’s progress with its smoking cessation drug cytisinicline. The stock currently trades at $3.96, representing potential upside of 405% to the target, with analysts maintaining a Strong Buy consensus. According to InvestingPro data, analyst price targets range from $10 to $25.
The firm highlighted updates from ACHV’s CEO Rick Stewart during Raymond James’ BioPharma CEO Strategy Series on Friday, noting that the company’s New Drug Application (NDA) is on track with good communication with the FDA ahead of the June 20, 2026 PDUFA date for smoking cessation.
Raymond James emphasized the large market opportunity, pointing to approximately 29 million smokers and 17 million vapers in the United States, with cytisinicline positioned as a potential best-in-class treatment for smoking cessation and first-in-class for vaping cessation. InvestingPro analysis shows ACHV has a solid financial foundation with a current ratio of 5.14 and more cash than debt on its balance sheet, providing runway for its development programs. Discover more insights with the comprehensive Pro Research Report, available for ACHV and 1,400+ other US equities.
The company is also making progress on its vaping cessation program following receipt of a Clinical Need Pilot Program Voucher (CNPV) from the FDA, with plans to start a Phase 3 trial in the first half of 2026 that could reach the market approximately 12-15 months after the smoking cessation indication. Despite recent volatility with a 10% decline over the last week, ACHV shares have shown strong momentum with a 30.26% gain over the past six months.
Achieve Life Sciences has additionally developed a synthetic version of cytisinicline with pending intellectual property protection that could be available shortly after a vaping approval, potentially helping the company address a broader market for nicotine addiction treatments.
In other recent news, Achieve Life Sciences reported its third-quarter earnings, revealing an earnings per share (EPS) of -$0.28. This result was below the analyst forecast of -$0.24, marking a 16.67% negative surprise. Despite the earnings miss, the company’s stock saw an increase in pre-market trading, which was attributed to investor optimism surrounding strategic developments and future prospects. The earnings announcement highlights the ongoing challenges the company faces in meeting analyst expectations. These recent developments are crucial for investors as they assess the company’s financial health and strategic direction. No mergers or acquisitions were reported, nor were there any analyst upgrades or downgrades mentioned in the recent updates. Investors will likely continue to monitor Achieve Life Sciences for further updates on its strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.