Aquestive Therapeutics (NASDAQ:AQST) Shares Gap Up on Better-Than-Expected Earnings

Aquestive Therapeutics, Inc. (NASDAQ:AQST) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $4.13, but opened at $4.75. Aquestive Therapeutics shares last traded at $4.6250, with a volume of 1,178,883 shares traded.

The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07. The company had revenue of $14.45 million for the quarter, compared to analyst estimates of $10.90 million.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Aquestive Therapeutics

In related news, insider Peter E. Boyd sold 29,814 shares of Aquestive Therapeutics stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $4.17, for a total value of $124,324.38. Following the completion of the transaction, the insider directly owned 338,509 shares in the company, valued at approximately $1,411,582.53. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO A Ernest Toth, Jr. sold 58,254 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $4.17, for a total value of $242,919.18. Following the completion of the sale, the chief financial officer directly owned 376,112 shares of the company’s stock, valued at approximately $1,568,387.04. This represents a 13.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 395,690 shares of company stock valued at $1,650,027. Corporate insiders own 6.81% of the company’s stock.

Institutional Investors Weigh In On Aquestive Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Aquestive Therapeutics by 17.0% in the third quarter. Victory Capital Management Inc. now owns 12,794 shares of the company’s stock worth $72,000 after purchasing an additional 1,862 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Aquestive Therapeutics by 6.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,098 shares of the company’s stock worth $156,000 after purchasing an additional 2,649 shares during the period. Informed Momentum Co LLC lifted its position in shares of Aquestive Therapeutics by 1.8% in the 4th quarter. Informed Momentum Co LLC now owns 155,053 shares of the company’s stock worth $1,002,000 after buying an additional 2,721 shares during the last quarter. Sugar Maple Asset Management LLC boosted its holdings in shares of Aquestive Therapeutics by 5.9% in the 1st quarter. Sugar Maple Asset Management LLC now owns 58,060 shares of the company’s stock valued at $241,000 after buying an additional 3,210 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Aquestive Therapeutics by 0.9% in the 4th quarter. Stifel Financial Corp now owns 369,728 shares of the company’s stock valued at $2,388,000 after buying an additional 3,300 shares during the period. 32.45% of the stock is owned by institutional investors and hedge funds.

Aquestive Therapeutics Trading Up 13.9%

The firm has a market cap of $584.89 million, a P/E ratio of -6.03 and a beta of 1.50. The business’s 50-day moving average is $4.15 and its two-hundred day moving average is $4.80.

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.