UPDATE: Oppenheimer Starts Aquestive Therapeutics (AQST) at Outperform
- Nasdaq ends down as investors eye Black Friday sales, China infections
- Apple (AAPL) could see a $6B hole in FQ1 iPhone revenue due to Foxconn troubles - analyst
- Activision Blizzard (ATVI) slips on report FTC likely to oppose $69B Microsoft (MSFT) deal
- Manchester United (MANU) shares jump again on Saudi interest
- Bitcoin (BTC) price struggles to rebound as Binance launches $1 billion recovery fund
Oppenheimer analyst Francois Brisebois initiates coverage on Aquestive Therapeutics (NASDAQ: AQST) with a Outperform rating and a price target of $8.50.
The analyst comments "AQST is focused on the development and commercialization of products with its proven PharmFilm technology for anaphylaxis and epilepsy. As a testament to its platform's credibility, AQST currently has five FDA-approved products focused on CNS (largest product is Suboxone: blockbuster at peak). Following the recent CEO transition, we believe AQST is approaching an inflection point with the development of AQST-109 (sublingual film epinephrine for anaphylaxis) as its main value driver. Despite Libervant's (buccal film diazepam for refractory seizures) delays with the FDA (original PDUFA: 12/23/21 and Tentative Approval granted on 8/31/22), we believe AQST's current revenues (Sympazan + licensing business) alone are underappreciated at this stock price and justify our Outperform rating. We are initiating coverage with an $8.50 price target."
Shares of Aquestive Therapeutics closed at $1.31 yesterday.
You May Also Be Interested In
- Remy Cointreau SA (RCO:FP) (REMYY) PT Lowered to EUR183 at Citi
- Lens Technology Co Ltd (300433:CH) PT Raised to RMB11.60 at Credit Suisse
- GoerTek Inc. (002241:CH) PT Lowered to RMB17.80 at Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Related EntitiesPDUFA, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!