Cantor Fitzgerald Initiates Coverage on Aquestive Therapeutics

Cantor Fitzgerald has launched coverage on Aquestive Therapeutics (NASDAQ:AQST), indicating a strong interest in the company’s stock potential. Their report, released on Tuesday, assigns an "overweight" rating, suggesting that they expect the stock to perform better than the market average. Additionally, they set a price target of $17.00, which could represent a substantial 372.22% increase from the company's recent closing price.

Positive Outlook from Other Analysts

In addition to Cantor Fitzgerald, several other research firms have also shared their perspectives on Aquestive Therapeutics. For instance, in a report dated October 25th, Leerink Partners raised their price target on the company from $12.00 to $13.00 and assigned an "outperform" rating. HC Wainwright reaffirmed a "buy" rating on November 6th, setting a price target of $10.00. JMP Securities also reemphasized a "market outperform" rating with a $9.00 price target on October 8th. Overall, six analysts have given the stock a buy rating, while one has rated it as a strong buy. Data from MarketBeat shows that the current consensus rating for Aquestive Therapeutics is "Buy" with a consensus price target of $11.00.

Performance of Aquestive Therapeutics Stock

As of Tuesday, shares of Aquestive Therapeutics opened at $3.60. The stock has a twelve-month low of $1.84 and a high of $6.23. Recent moving averages show a 50-day average price of $4.83 and a 200-day average price of $4.06. The company has a market capitalization of approximately $328.24 million and a price-to-earnings ratio of -8.00. Additionally, the stock has exhibited a beta of 2.62, indicating that it is more volatile than the overall market.

Quarterly Earnings Report

Aquestive Therapeutics released its quarterly earnings data on November 4th. The company reported earnings per share (EPS) of ($0.13), which fell short of analysts' expectations of ($0.12) by a margin of $0.01. The reported revenue of $13.54 million exceeded analyst estimates of $12.69 million. Comparatively, during the same period last year, the company recorded an EPS of ($0.03). Analysts are predicting that Aquestive Therapeutics will post an EPS of -0.47 for the current fiscal year.

Institutional Investment Activity

Recent activities among institutional investors have impacted Aquestive Therapeutics' stock holdings. Notably, State Street Corp increased its stake in the company by 52.1% during the third quarter, acquiring 512,682 additional shares and totaling 1,496,739 shares valued at approximately $7,454,000. Similarly, Blue Owl Capital Holdings LP raised its stake by 30.3%, now owning 1,140,000 shares worth $2,964,000 after obtaining 265,000 more shares. Other notable investments include new positions from Bank of New York Mellon Corp, Verition Fund Management LLC, and Wellington Management Group LLP, each acquiring significant stakes in the company. As a result, hedge funds and institutional investors now hold 32.45% of Aquestive Therapeutics' stock.

Company Background

Aquestive Therapeutics, Inc is a pharmaceutical company that operates both in the United States and internationally. The company specializes in several medications, including Sympazan, an oral film formulation of clobazam intended for treating Lennox-Gastaut Syndrome; Suboxone, a sublingual film formulation for opioid dependence; Zuplenz, an oral film for nausea and vomiting associated with chemotherapy; and Azstarys, a once-daily treatment for attention deficit hyperactivity disorder.

Cantor, Coverage, Stock