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

Shares of Aquestive Therapeutics, Inc. (NASDAQ:AQST) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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.

The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.07. The firm had revenue of $14.45 million for the quarter, compared to analyst estimates of $10.90 million.

Wall Street Analyst Weigh In

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

Insider Activity at Aquestive Therapeutics

In other news, insider Lori J. Braender sold 40,102 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $4.17, for a total transaction of $167,225.34. Following the completion of the sale, the insider directly owned 442,879 shares in the company, valued at $1,846,805.43. This represents a 8.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Cassie Jung sold 45,791 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $4.17, for a total value of $190,948.47. Following the completion of the transaction, the chief operating officer directly owned 274,980 shares in the company, valued at $1,146,666.60. This trade represents a 14.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 395,690 shares of company stock worth $1,650,027. 6.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aquestive Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of AQST. AQR Capital Management LLC increased its position in Aquestive Therapeutics by 12.2% during the 1st quarter. AQR Capital Management LLC now owns 129,019 shares of the company’s stock worth $374,000 after purchasing an additional 14,025 shares in the last quarter. Geode Capital Management LLC grew its stake in Aquestive Therapeutics by 16.2% during the second quarter. Geode Capital Management LLC now owns 1,977,001 shares of the company’s stock worth $6,545,000 after buying an additional 276,295 shares during the period. Creative Planning grew its stake in Aquestive Therapeutics by 15.3% during the second quarter. Creative Planning now owns 98,751 shares of the company’s stock worth $327,000 after buying an additional 13,130 shares during the period. JPMorgan Chase & Co. increased its position in shares of Aquestive Therapeutics by 46.3% in the second quarter. JPMorgan Chase & Co. now owns 435,972 shares of the company’s stock worth $1,443,000 after acquiring an additional 137,956 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Aquestive Therapeutics by 35.0% in the second quarter. Rhumbline Advisers now owns 140,872 shares of the company’s stock worth $466,000 after acquiring an additional 36,509 shares in the last quarter. 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 PE ratio of -6.03 and a beta of 1.50. The stock’s 50 day moving average price is $4.15 and its 200 day moving average price 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.