Aquestive Therapeutics: Analyst Confident in Undervalued Stock Amid Strong Clinical Performance

Cantor Fitzgerald has initiated coverage on Aquestive Therapeutics, Inc. (NASDAQ:AQST), a pharmaceutical company with a portfolio of five commercialized products.

Aquestive is engaged in collaborations with other pharmaceutical companies to introduce new drug molecules to the market. The company utilizes innovative technologies such as PharmFilm, a platform designed to enhance drug delivery systems. Currently, Aquestive is focusing on a late-stage proprietary product, Anaphylm, aimed at treating severe allergic reactions, including anaphylaxis, alongside an earlier-stage epinephrine topical gel for dermatological conditions.

Cantor emphasizes that the unique strength of Aquestive lies in its PharmFilm technology, which allows for the delivery of active pharmaceutical ingredients through various oral routes, such as buccal, sublingual, and lingual methods. The primary focus at this time is on Anaphylm, which is approaching the pre-New Drug Application (NDA) stage and targets Type 1 allergic reactions.

With this coverage initiation, Cantor has assigned an Overweight rating to Aquestive and set a price target of $17.

Recently, the company reaffirmed its guidance for an NDA submission in the first quarter of 2025 for Anaphylm and confirmed that no additional adult clinical trials are required before making this submission. Pediatric trials have already commenced in both the U.S. and Canada.

Cantor's analysis suggests that shares of Aquestive are currently undervalued compared to projected peak sales for Anaphylm, despite existing clinical data that demonstrate a competitive profile when compared to epinephrine auto-injectors, and in some cases, show improvements.

The Cantor analyst projects that the potential of Anaphylm alone could lift shares significantly—by over 200%—if it receives approval in 2025.

According to Cantor, the introduction of Anaphylm could disrupt the existing market for epinephrine auto-injectors. The product is highly portable, roughly the size of a postage stamp, allowing users to carry it comfortably in a pocket or behind their cellphone. It may prove quicker and simpler to use than traditional auto-injectors, featuring fewer steps that could attract both patients and caregivers.

The forthcoming submission of Anaphylm's marketing application in the U.S. is a significant component of Cantor's revenue expectations for Aquestive.

Stock Performance: At the latest check, AQST shares are up 7.31% at a price of $3.86.

Aquestive, Therapeutics, Anaphylm