Aquestive Therapeutics (NASDAQ:AQST) Shares Up 5.2% - Here's What Happened

Key Points

• Aquestive Therapeutics' shares increased by 5.2% on Friday, reaching as high as $5.21 after previously closing at $4.95.
• Analysts have a consensus rating of Buy for the stock, with a target price averaging $10.29, following multiple upgrades and positive ratings from brokerages.
• Institutional ownership has risen significantly, with several firms, including Geode Capital Management and Sio Capital Management, increasing their stakes in the company during the second quarter.

Aquestive Therapeutics, Inc. (NASDAQ:AQST - Get Free Report) shot up 5.2% on Friday . The company traded as high as $5.19 and last traded at $5.21. 445,064 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,608,098 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AQST. HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Aquestive Therapeutics in a report on Tuesday, June 17th. Oppenheimer boosted their price target on Aquestive Therapeutics from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Monday. Zacks Research upgraded Aquestive Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Lifesci Capital upgraded Aquestive Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $10.29.

Aquestive Therapeutics Stock Performance

The stock has a market capitalization of $514.06 million, a P/E ratio of -7.39 and a beta of 1.82. The stock has a 50 day moving average of $4.09 and a 200 day moving average of $3.30.

Aquestive Therapeutics (NASDAQ:AQST - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. The business had revenue of $10.00 million during the quarter, compared to the consensus estimate of $11.32 million. Aquestive Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Aquestive Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at Aquestive Therapeutics

In other news, COO Cassie Jung sold 62,180 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $5.00, for a total value of $310,900.00. Following the completion of the transaction, the chief operating officer owned 283,346 shares of the company's stock, valued at approximately $1,416,730. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Peter E. Boyd sold 15,000 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $5.30, for a total value of $79,500.00. Following the completion of the transaction, the insider directly owned 288,323 shares of the company's stock, valued at approximately $1,528,111.90. The trade was a 4.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.35% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Aquestive Therapeutics by 16.2% in the second quarter. Geode Capital Management LLC now owns 1,977,001 shares of the company's stock worth $6,545,000 after purchasing an additional 276,295 shares in the last quarter. Pale Fire Capital SE lifted its holdings in shares of Aquestive Therapeutics by 25.5% in the second quarter. Pale Fire Capital SE now owns 1,676,451 shares of the company's stock valued at $5,549,000 after buying an additional 340,767 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Aquestive Therapeutics by 7.6% in the first quarter. Janney Montgomery Scott LLC now owns 1,059,760 shares of the company's stock valued at $3,073,000 after buying an additional 75,275 shares during the period. Sio Capital Management LLC lifted its holdings in shares of Aquestive Therapeutics by 141.9% in the second quarter. Sio Capital Management LLC now owns 947,489 shares of the company's stock valued at $3,136,000 after buying an additional 555,860 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Aquestive Therapeutics by 905.2% in the fourth quarter. Bank of America Corp DE now owns 690,284 shares of the company's stock valued at $2,457,000 after buying an additional 621,614 shares during the period. Institutional investors own 32.45% of the company's stock.

About Aquestive Therapeutics

Aquestive Therapeutics, Inc operates as a pharmaceutical company in the United States and internationally. The company markets Sympazan, an oral soluble film formulation of clobazam for the treatment of lennox-gastaut syndrome; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; Zuplenz, an oral soluble film formulation of ondansetron for the treatment of nausea and vomiting associated with chemotherapy and post-operative recovery; and Azstarys, a once-daily product for the treatment of attention deficit hyperactivity disorder.

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