On Wednesday, Lake Street Capital Markets updated its outlook on shares of Aquestive Therapeutics (NASDAQ:AQST), increasing the price target to $10.00 from the previous $7.00. The firm maintained its Buy rating on the stock. The adjustment reflects anticipated milestones for the company, including the submission of the New Drug Application (NDA) for its Anaphylm product.
Aquestive Therapeutics is on track to meet significant milestones within the next five months, according to the analyst at Lake Street Capital Markets. The most critical of these milestones is the submission of the Anaphylm NDA, which is expected to be a major value driver for the company.
Prior to this submission, Aquestive will have a pre-NDA meeting and complete a pediatric study for Anaphylm, along with a pre-Investigational New Drug (IND) meeting for AQST-108.
The firm's analyst believes that the successful completion of these steps will set Aquestive up for a strong second quarter in 2025. By then, the company aims to have submitted the NDA and aligned with the FDA on the Phase 2 program for AQST-108. The analyst also notes that these developments will underscore the strategic direction taken by CEO Dan Barber since his appointment in mid-2022 and should provide reassurance to investors.
The report further highlights the potential impact of Anaphylm, suggesting that it could be transformative for patients, caregivers, physicians, as well as Aquestive and its shareholders. The analyst expresses confidence in the likelihood of a successful NDA submission and subsequent approval, stating that each step in the process should increase investor confidence in the company's prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.