Aquestive Therapeutics (NASDAQ:AQST) Issues Quarterly Earnings Results

Aquestive Therapeutics (NASDAQ:AQST) issued its earnings results on Wednesday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13), FiscalAI reports. The business had revenue of $13.02 million during the quarter, compared to analysts’ expectations of $13.28 million.

Aquestive Therapeutics Price Performance

AQST stock traded up $0.25 during midday trading on Wednesday, reaching $4.37. The company had a trading volume of 2,287,609 shares, compared to its average volume of 5,966,358. Aquestive Therapeutics has a 1-year low of $2.12 and a 1-year high of $7.55. The stock has a 50 day moving average price of $4.32 and a 200-day moving average price of $5.21. The company has a market capitalization of $533.14 million, a price-to-earnings ratio of -6.15 and a beta of 1.61.

Hedge Funds Weigh In On Aquestive Therapeutics

A number of institutional investors have recently modified their holdings of AQST. NewEdge Advisors LLC bought a new stake in shares of Aquestive Therapeutics in the 3rd quarter valued at $28,000. BNP Paribas Financial Markets boosted its position in Aquestive Therapeutics by 78.3% during the second quarter. BNP Paribas Financial Markets now owns 9,413 shares of the company’s stock valued at $31,000 after acquiring an additional 4,134 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in Aquestive Therapeutics during the 2nd quarter worth about $33,000. Kestra Private Wealth Services LLC bought a new position in shares of Aquestive Therapeutics in the 3rd quarter worth about $60,000. Finally, Victory Capital Management Inc. boosted its position in shares of Aquestive Therapeutics by 17.0% during the 3rd quarter. Victory Capital Management Inc. now owns 12,794 shares of the company’s stock valued at $72,000 after purchasing an additional 1,862 shares in the last quarter. Institutional investors and hedge funds own 32.45% of the company’s stock.

Analyst Ratings Changes

AQST has been the topic of a number of research analyst reports. Lake Street Capital set a $6.00 price objective on shares of Aquestive Therapeutics in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Aquestive Therapeutics in a research note on Wednesday, January 21st. Piper Sandler boosted their price target on Aquestive Therapeutics from $5.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Wall Street Zen lowered Aquestive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.50.

Aquestive Therapeutics Company Profile

Aquestive Therapeutics, Inc is a specialty pharmaceutical company focused on the development and commercialization of novel drug delivery systems. Leveraging its proprietary PharmFilm® technology, Aquestive designs thin-film formulations that facilitate sublingual, buccal and oral delivery of small molecules, offering rapid onset of action and improved patient compliance compared with traditional dosage forms.

The company’s lead product, Libervant® (diazepam) Buccal Film, is approved by the U.S.