Achieve Life Sciences price target lowered by $10 at Ladenburg, here’s why

Ladenburg lowered the firm’s price target on Achieve Life Sciences to $25 from $35 and keeps a Buy rating on the shares. The company Achieve said in a regulatory filing that during a recent pre-new drug application meeting in smoking cessation, it learned the FDA will now require data beyond the 12 weeks’ data generated in its two Phase 3 pivotal studies, the analyst tells investors in a research note. The firm says this is the “first hiccup” in cytisinicline’s development. It anticipates a one-year delay in cytisinicline’s approval and launch.