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

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

Aquestive Therapeutics Stock Up 12.7%

AQST traded up $0.53 during mid-day trading on Thursday, reaching $4.66. 1,688,523 shares of the company traded hands, compared to its average volume of 3,558,818. The company’s fifty day moving average price is $4.15 and its 200-day moving average price is $4.80. The stock has a market capitalization of $578.67 million, a P/E ratio of -5.98 and a beta of 1.50. Aquestive Therapeutics has a 52-week low of $2.14 and a 52-week high of $7.55.

Insider Transactions at Aquestive Therapeutics

In related news, CEO Daniel Barber sold 180,677 shares of Aquestive Therapeutics stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $4.17, for a total value of $753,423.09. Following the completion of the sale, the chief executive officer owned 1,004,753 shares of the company’s stock, valued at $4,189,820.01. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO A Ernest Toth, Jr. sold 58,254 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $4.17, for a total value of $242,919.18. Following the sale, the chief financial officer owned 376,112 shares of the company’s stock, valued at approximately $1,568,387.04. This trade represents a 13.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 395,690 shares of company stock worth $1,650,027. Company insiders own 6.81% of the company’s stock.

Hedge Funds Weigh In On Aquestive Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Aquestive Therapeutics by 12.2% during the first quarter. AQR Capital Management LLC now owns 129,019 shares of the company’s stock valued at $374,000 after buying an additional 14,025 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Aquestive Therapeutics by 16.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,977,001 shares of the company’s stock valued at $6,545,000 after acquiring an additional 276,295 shares during the period. Creative Planning grew its position in shares of Aquestive Therapeutics by 15.3% during the 2nd quarter. Creative Planning now owns 98,751 shares of the company’s stock valued at $327,000 after acquiring an additional 13,130 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Aquestive Therapeutics by 46.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 435,972 shares of the company’s stock worth $1,443,000 after purchasing an additional 137,956 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Aquestive Therapeutics by 35.0% in the 2nd quarter. Rhumbline Advisers now owns 140,872 shares of the company’s stock worth $466,000 after purchasing an additional 36,509 shares during the period. Hedge funds and other institutional investors own 32.45% of the company’s stock.

Analyst Ratings Changes

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

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.