Aquestive Therapeutics (NASDAQ:AQST) Announces Earnings Results, Beats Expectations By $0.07 EPS

Aquestive Therapeutics (NASDAQ:AQST) posted its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07, FiscalAI reports. The business had revenue of $14.45 million during the quarter, compared to analysts’ expectations of $10.90 million.

Aquestive Therapeutics Trading Up 14.5%

Shares of Aquestive Therapeutics stock opened at $4.73 on Friday. Aquestive Therapeutics has a 12-month low of $2.14 and a 12-month high of $7.55. The company has a market cap of $587.89 million, a price-to-earnings ratio of -7.75 and a beta of 1.50. The company’s 50-day moving average price is $4.16 and its 200-day moving average price is $4.78.

Insider Buying and Selling

In related news, SVP Melina Cioffi sold 25,311 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $4.17, for a total transaction of $105,546.87. Following the completion of the transaction, the senior vice president directly owned 274,867 shares in the company, valued at $1,146,195.39. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sherry Korczynski sold 15,741 shares of Aquestive Therapeutics stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $4.17, for a total value of $65,639.97. Following the sale, the insider owned 241,117 shares of the company’s stock, valued at approximately $1,005,457.89. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 395,690 shares of company stock valued at $1,650,027 in the last ninety days. 6.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Aquestive Therapeutics

A number of institutional investors have recently made changes to their positions in AQST. Price T Rowe Associates Inc. MD lifted its stake in Aquestive Therapeutics by 24.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 55,951 shares of the company’s stock worth $362,000 after purchasing an additional 10,865 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Aquestive Therapeutics in the fourth quarter worth approximately $223,000. Intech Investment Management LLC raised its stake in shares of Aquestive Therapeutics by 58.9% during the fourth quarter. Intech Investment Management LLC now owns 33,913 shares of the company’s stock valued at $219,000 after acquiring an additional 12,566 shares during the last quarter. Man Group plc purchased a new position in shares of Aquestive Therapeutics during the fourth quarter valued at approximately $189,000. Finally, New York State Common Retirement Fund increased its position in Aquestive Therapeutics by 123.8% during the 4th quarter. New York State Common Retirement Fund now owns 27,300 shares of the company’s stock valued at $176,000 after purchasing an additional 15,100 shares during the period. Institutional investors own 32.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aquestive Therapeutics in a report on Monday, April 20th. Oppenheimer began coverage on shares of Aquestive Therapeutics in a report on Friday, April 24th. They set an “outperform” rating and a $8.00 price objective for the company. Wall Street Zen cut shares of Aquestive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Lake Street Capital set a $6.00 target price on shares of Aquestive Therapeutics in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.80.

About Aquestive Therapeutics

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.