TSX runs higher on rate cut expectations
Tuesday, JMP Securities reaffirmed their Market Outperform rating and $9.00 price target for Aquestive Therapeutics (NASDAQ:AQST) shares, suggesting significant upside from the current price of $3.32. With analyst targets ranging from $5.50 to $17.00, InvestingPro data shows strong analyst optimism for this $303 million market cap company. The endorsement comes ahead of the company's participation in a scientific conference where its product Anaphylm will be presented.
Aquestive Therapeutics is set to feature its Anaphylm product in four poster presentations on Saturday, March 1. The highlight of these presentations will be the results from the Oral Anaphylm Symptom Intervention Study (OASIS), which are significant as they validate the real-world application of Anaphylm. The company has shown strong commercial potential, with revenue growing 22.6% in the last twelve months to $58.9 million.
The OASIS study is particularly notable for demonstrating Anaphylm's ability to rapidly resolve allergen-related symptoms. The median resolution time was 12 minutes following Anaphylm administration, compared to 74 minutes at baseline. This finding underscores the potential effectiveness of Anaphylm in treating allergic reactions.
Additionally, the OAS challenge study provided evidence of consistent pharmacokinetic (PK) profiles for Anaphylm, regardless of whether an oral allergy challenge was present. This consistency is crucial for the reliability and predictability of the treatment's performance in real-world scenarios.
The confidence expressed by JMP Securities in Aquestive Therapeutics' stock is based on these scientific findings, which support the potential of Anaphylm as a valuable treatment option for allergic reactions. The reiterated price target of $9.00 reflects the firm's continued positive outlook on the company's prospects. According to InvestingPro, the company maintains a "GOOD" overall financial health score, despite being a high-beta stock at 2.66. Discover more insights and 12+ additional ProTips about AQST in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Aquestive Therapeutics has been making significant strides in its drug development and commercialization efforts. The FDA has granted seven years of Orphan Drug exclusivity to Aquestive's Libervant, a drug designed for the acute treatment of frequent seizure activity in epileptic patients aged two to five years. This decision by the FDA has been commended by analysts from H.C. Wainwright who have maintained their Buy rating for Aquestive's shares.
In addition, Cantor Fitzgerald has initiated coverage on Aquestive with an Overweight rating, highlighting the company's proprietary oral film technology, PharmFilm. This technology has facilitated partnerships and generated revenue projections between $57 million and $60 million for the year 2024. A key milestone for Aquestive is the planned submission of a New Drug Application for Anaphylm, a treatment for Type 1 allergic reactions, in the first quarter of 2025.
Lake Street Capital Markets has also increased its price target for Aquestive to $10.00, reflecting a positive outlook on the company's upcoming Anaphylm catalysts. These recent developments have positioned Aquestive as a company to watch in the pharmaceutical industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.