Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Aquestive Therapeutics (AQST – Research Report), retaining the price target of $9.00.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Aquestive Therapeutics’ recent developments and prospects. The full regulatory approval of Libervant for pediatric use marks a significant milestone, as the medication addresses a growing need in the treatment of epilepsy-related seizures in young patients. With a notable increase in prescription rates for this age group, Libervant’s entry is timely and fills a gap left by the predominant use of diazepam rectal gel. Selvaraju sees this approval as a stepping stone for Aquestive, laying the groundwork for potential future expansion into the adult epilepsy market, which will further increase the drug’s total addressable market.
Additionally, Aquestive’s Anaphylm is poised to become a front-runner in the epinephrine product segment, with anticipated FDA submission for approval in late 2024. The product’s rapid onset of action and user-friendly sublingual administration method offer significant competitive advantages over existing options. Selvaraju is encouraged by the regulatory path ahead for Anaphylm, which appears to be straightforward and achievable with remaining studies expected to be completed on schedule. The prospects for Anaphylm, combined with the recent advances for Libervant, support Selvaraju’s optimistic outlook and his Buy recommendation for Aquestive Therapeutics’ stock.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 5.8% and a 35.46% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Genmab, MoonLake Immunotherapeutics, and Axsome Therapeutics.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $10.00 price target.
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Aquestive Therapeutics (AQST) Company Description:
Aquestive Therapeutics, Inc. is a specialty pharmaceutical company focused on identifying, developing, and commercializing differentiated products to address unmet medical needs. The company has a late-stage proprietary product pipeline focused on the treatment of Central nervous system (CNS) diseases, as well as orally-administered complex molecules that can be alternatives to invasively-administered standard of care therapies. Its product candidates include Libervant, Sympazan, and AQST-117 (Riluzole). Aquestive Therapeutics develops and delivers drugs via its PharmFilm® technology. The firm also collaborates with pharmaceutical partners to bring new molecules to market in differentiated and highly-marketable dosage forms. In addition to its proprietary product candidates, the company, with its partners, has a portfolio of development-stage products and commercialized products, such as Suboxone, a prescription medicine for the treatment of opioid dependence. The company was founded in January 2004 and is headquartered in Warren, NJ.
Read More on AQST:
- Largest borrow rate increases among liquid names
- Aquestive Therapeutics to Present Crossover Study Data for Libervant™ (diazepam) Buccal Film at 76th Annual Meeting of the American Academy of Neurology
- Aquestive Therapeutics initiated with an Overweight at Piper Sandler
- Aquestive Therapeutics files $250M mixed securities shelf
- Aquestive Therapeutics Welcomes Abigail Jenkins to Board
