Symbols / AQST
AQST Chart
About
Aquestive Therapeutics, Inc. operates as a pharmaceutical company in the United States and internationally. It offers Libervant, a buccal soluble film formulation of diazepam for the treatment of seizures; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; Sympazan, an oral soluble film formulation of clobazam for the treatment of lennox-gastaut syndrome; KYNMOBI a sublingual film formulation of apomorphine for the treatment of episodic off-periods in Parkinson's disease; and Azstarys, a once-daily product for the treatment of attention deficit hyperactivity disorder. The company's proprietary pipeline products include Anaphylm, an epinephrine sublingual film, which is in phase 3 clinical trial for the emergency treatment of allergic reactions, including anaphylaxis; and AQST-108, a topical gel that is in phase 2 clinical trial for the treatment of alopecia areata. In addition, it develops PharmFilm technology for patients suffering from certain central nervous system disorders; and Adrenaverse, an epinephrine prodrug platform. The company was incorporated in 2004 and is headquartered in Warren, New Jersey.
Fundamentals
Scroll to Statements| Sector | Healthcare | Industry | Drug Manufacturers - Spe | Market Cap | 498.99M |
| Enterprise Value | 396.67M | Income | -68.98M | Sales | 43.40M |
| Book/sh | -0.03 | Cash/sh | 1.06 | Dividend Yield | — |
| Payout | 0.00% | Employees | 142 | IPO | — |
| P/E | — | Forward P/E | -7.77 | PEG | — |
| P/S | 11.50 | P/B | -120.29 | P/C | — |
| EV/EBITDA | -7.19 | EV/Sales | 9.14 | Quick Ratio | 5.51 |
| Current Ratio | 5.93 | Debt/Eq | — | LT Debt/Eq | — |
| EPS (ttm) | -0.70 | EPS next Y | -0.53 | EPS Growth | — |
| Revenue Growth | -5.40% | Earnings | 2026-03-04 | ROA | -25.50% |
| ROE | — | ROIC | — | Gross Margin | 60.28% |
| Oper. Margin | -89.63% | Profit Margin | -158.95% | Shs Outstand | 122.00M |
| Shs Float | 111.90M | Short Float | 19.16% | Short Ratio | 3.28 |
| Short Interest | — | 52W High | 7.55 | 52W Low | 2.12 |
| Beta | 1.66 | Avg Volume | 4.90M | Volume | 2.44M |
| Target Price | $9.22 | Recom | Strong_buy | Prev Close | $3.97 |
| Price | $4.09 | Change | 3.02% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$9.22
Mean price target
2. Current target
$4.09
Latest analyst target
3. DCF / Fair value
$-3.80
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.09
Low
$6.00
High
$12.00
Mean
$9.22
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-11-07 | main | Piper Sandler | Overweight → Overweight | $8 |
| 2025-10-09 | main | JMP Securities | Market Outperform → Market Outperform | $12 |
| 2025-09-08 | main | Oppenheimer | Outperform → Outperform | $8 |
| 2025-06-17 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2025-05-15 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2025-04-02 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2025-03-10 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2025-03-07 | main | Lake Street | Buy → Buy | $8 |
| 2024-12-20 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2024-12-17 | init | Cantor Fitzgerald | — → Overweight | $17 |
| 2024-11-11 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2024-11-06 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2024-10-25 | main | Leerink Partners | Outperform → Outperform | $13 |
| 2024-10-25 | reit | HC Wainwright & Co. | Buy → Buy | $10 |
| 2024-10-08 | reit | JMP Securities | Market Outperform → Market Outperform | $9 |
| 2024-09-30 | reit | JMP Securities | Market Outperform → Market Outperform | $9 |
| 2024-09-30 | reit | Leerink Partners | Outperform → Outperform | $12 |
| 2024-09-30 | main | HC Wainwright & Co. | Buy → Buy | $10 |
| 2024-08-14 | reit | HC Wainwright & Co. | Buy → Buy | $9 |
| 2024-08-12 | reit | JMP Securities | Market Outperform → Market Outperform | $9 |
- Down 37% in 4 Weeks, Here's Why Aquestive Therapeutics (AQST) Looks Ripe for a Turnaround - Yahoo Finance Mon, 12 Jan 2026 08
- Allergy film Anaphylm delivers epinephrine without blood pressure dip in study - Stock Titan Fri, 20 Feb 2026 12
- Why Did AQST Stock Jump 35% Today? - Stocktwits Mon, 02 Feb 2026 08
- AQST INVESTOR NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Aquestive Therapeutics - GlobeNewswire hu, 19 Feb 2026 14
- Aquestive Therapeutics: Anaphylm Will Probably Survive This Regulatory Hurdle - Seeking Alpha Mon, 12 Jan 2026 08
- Here's Why Aquestive Therapeutics (AQST) Is a Great 'Buy the Bottom' Stock Now - Nasdaq Wed, 14 Jan 2026 08
- H.C. Wainwright reiterates Buy rating on Aquestive stock after FDA response - Investing.com ue, 03 Feb 2026 08
- Lake Street Adjusts Aquestive Therapeutics, Inc. (AQST) Valuation Model on Expected Approval Delay - Bitget Mon, 23 Feb 2026 21
- INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Aquestive Therapeutics, Inc. - AQST - PR Newswire hu, 29 Jan 2026 08
- AQST Stock Up as FDA Skips Advisory Meeting to Discuss Anaphylm NDA - Zacks Investment Research Fri, 05 Sep 2025 07
- $AQST stock is up 35% today. Here's what we see in our data. - Quiver Quantitative Mon, 02 Feb 2026 08
- AQST Stock Plunges On An FDA Setback For Its Allergy Drug – Here’s What Has Changed - Stocktwits Fri, 09 Jan 2026 08
- Anaphylaxis researcher joins Aquestive to tackle epinephrine access barriers - Stock Titan Wed, 18 Feb 2026 12
- Aquestive Therapeutics: Biology Validated, Packaging Pending - A Forensic Analysis Of The Anaphylm CRL - Seeking Alpha ue, 17 Feb 2026 20
- Lake Street Adjusts Aquestive Therapeutics, Inc. (AQST) Valuation Model on Expected Approval Delay - Insider Monkey Mon, 23 Feb 2026 21
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 20000 | — | — | Stock Award(Grant) at price 0.00 per share. | BOYD PETER E | Officer | — | 2025-12-04 00:00:00 | D |
| 1 | 50000 | — | — | Stock Award(Grant) at price 0.00 per share. | DAVIS MATTHEW W | Officer | — | 2025-11-10 00:00:00 | D |
| 2 | 10000 | 70000 | — | Sale at price 7.00 per share. | BOYD PETER E | Officer | — | 2025-10-15 00:00:00 | D |
| 3 | 20272 | 141904 | — | Sale at price 7.00 per share. | KRAUS CARL N | Officer | — | 2025-10-15 00:00:00 | D |
| 4 | 67575 | 473701 | — | Sale at price 7.01 per share. | JUNG CASSIE | Chief Operating Officer | — | 2025-10-15 00:00:00 | D |
| 5 | 25000 | 77568 | — | Conversion of Exercise of derivative security at price 3.10 per share. | JUNG CASSIE | Chief Operating Officer | — | 2025-10-15 00:00:00 | D |
| 6 | 91343 | 551191 | — | Sale at price 6.03 per share. | BARBER DANIEL R | Chief Executive Officer | — | 2025-09-26 00:00:00 | D |
| 7 | 10000 | 63000 | — | Sale at price 6.30 per share. | BOYD PETER E | Officer | — | 2025-09-26 00:00:00 | D |
| 8 | 400 | 2400 | — | Sale at price 6.00 per share. | BARBER DANIEL R | Chief Executive Officer | — | 2025-09-19 00:00:00 | D |
| 9 | 15000 | 79500 | — | Sale at price 5.30 per share. | BOYD PETER E | Officer | — | 2025-09-05 00:00:00 | D |
Financials
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | 0.00 | -290.22K | 0.00 | -16.59K |
| TaxRateForCalcs | 0.00 | 0.21 | 0.00 | 0.00 |
| NormalizedEBITDA | -26.62M | 2.56M | -39.58M | -31.29M |
| TotalUnusualItems | 0.00 | -1.38M | 0.00 | -13.82M |
| TotalUnusualItemsExcludingGoodwill | 0.00 | -1.38M | 0.00 | -13.82M |
| NetIncomeFromContinuingOperationNetMinorityInterest | -44.14M | -7.87M | -54.41M | -70.54M |
| ReconciledDepreciation | 718.00K | 1.34M | 2.39M | 2.96M |
| ReconciledCostOfRevenue | 17.87M | 20.83M | 19.39M | 14.99M |
| EBITDA | -26.62M | 1.18M | -39.58M | -45.11M |
| EBIT | -27.33M | -163.00K | -41.97M | -48.08M |
| NetInterestIncome | -13.38M | 8.86M | -12.34M | -22.04M |
| InterestExpense | 16.82M | 7.46M | 12.44M | 22.46M |
| InterestIncome | 3.44M | 16.32M | 99.00K | 423.00K |
| NormalizedIncome | -44.14M | -6.78M | -54.41M | -56.73M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -44.14M | -7.87M | -54.41M | -70.54M |
| TotalExpenses | 88.33M | 65.69M | 89.75M | 85.51M |
| TotalOperatingIncomeAsReported | -30.77M | -15.10M | -42.07M | -34.68M |
| DilutedAverageShares | 86.73M | 61.26M | 48.73M | 38.08M |
| BasicAverageShares | 86.73M | 61.26M | 48.73M | 38.08M |
| DilutedEPS | -0.51 | -0.13 | -1.12 | -1.85 |
| BasicEPS | -0.51 | -0.13 | -1.12 | -1.85 |
| DilutedNIAvailtoComStockholders | -44.14M | -7.87M | -54.41M | -70.54M |
| NetIncomeCommonStockholders | -44.14M | -7.87M | -54.41M | -70.54M |
| NetIncome | -44.14M | -7.87M | -54.41M | -70.54M |
| NetIncomeIncludingNoncontrollingInterests | -44.14M | -7.87M | -54.41M | -70.54M |
| NetIncomeContinuousOperations | -44.14M | -7.87M | -54.41M | -70.54M |
| TaxProvision | -14.00K | 245.00K | 0.00 | 0.00 |
| PretaxIncome | -44.15M | -7.62M | -54.41M | -70.54M |
| OtherIncomeExpense | -1.38M | -13.82M | ||
| SpecialIncomeCharges | 0.00 | -1.38M | 0.00 | -13.82M |
| OtherSpecialCharges | 1.38M | 13.82M | ||
| NetNonOperatingInterestIncomeExpense | -13.38M | 8.86M | -12.34M | -22.04M |
| InterestExpenseNonOperating | 16.82M | 7.46M | 12.44M | 22.46M |
| InterestIncomeNonOperating | 3.44M | 16.32M | 99.00K | 423.00K |
| OperatingIncome | -30.77M | -15.10M | -42.07M | -34.68M |
| OperatingExpense | 70.46M | 44.85M | 70.36M | 70.52M |
| ResearchAndDevelopment | 20.28M | 13.10M | 17.48M | 17.05M |
| SellingGeneralAndAdministration | 50.18M | 31.75M | 52.88M | 53.48M |
| GrossProfit | 39.69M | 29.75M | 28.29M | 35.84M |
| CostOfRevenue | 17.87M | 20.83M | 19.39M | 14.99M |
| TotalRevenue | 57.56M | 50.58M | 47.68M | 50.83M |
| OperatingRevenue | 57.56M | 50.58M | 47.68M | 50.83M |
| Line Item | 2023-12-31 | |||
|---|---|---|---|---|
| TreasurySharesNumber | 0.00 | |||
| OrdinarySharesNumber | 91.41M | 68.53M | 54.83M | 41.23M |
| ShareIssued | 91.41M | 68.53M | 54.83M | 41.23M |
| NetDebt | 3.66M | 24.88M | 25.55M | |
| TotalDebt | 38.00M | 33.32M | 57.49M | 56.42M |
| TangibleBookValue | -60.16M | -107.77M | -119.99M | -82.19M |
| InvestedCapital | -27.63M | -78.96M | -66.41M | -28.56M |
| WorkingCapital | 69.36M | 22.66M | 360.00K | 25.30M |
| NetTangibleAssets | -60.16M | -107.77M | -119.99M | -82.19M |
| CapitalLeaseObligations | 5.48M | 5.79M | 5.34M | 2.85M |
| CommonStockEquity | -60.16M | -106.49M | -118.55M | -82.13M |
| TotalCapitalization | -27.66M | -78.98M | -85.11M | -30.58M |
| TotalEquityGrossMinorityInterest | -60.16M | -106.49M | -118.55M | -82.13M |
| StockholdersEquity | -60.16M | -106.49M | -118.55M | -82.13M |
| RetainedEarnings | -363.21M | -319.08M | -311.21M | -256.80M |
| AdditionalPaidInCapital | 302.97M | 212.52M | 192.60M | 174.62M |
| CapitalStock | 91.00K | 69.00K | 55.00K | 41.00K |
| CommonStock | 91.00K | 69.00K | 55.00K | 41.00K |
| TotalLiabilitiesNetMinorityInterest | 161.58M | 163.91M | 175.62M | 144.13M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 142.72M | 145.60M | 136.10M | 122.16M |
| OtherNonCurrentLiabilities | 22.52M | 16.78M | 2.03M | 2.48M |
| LiabilitiesHeldforSaleNonCurrent | 62.72M | 63.57M | 64.11M | 59.06M |
| NonCurrentDeferredLiabilities | 20.00M | 32.34M | 31.42M | 7.12M |
| NonCurrentDeferredRevenue | 20.00M | 32.34M | 31.42M | 7.12M |
| LongTermDebtAndCapitalLeaseObligation | 37.47M | 32.91M | 38.53M | 53.50M |
| LongTermCapitalLeaseObligation | 4.97M | 5.40M | 5.08M | 1.95M |
| LongTermDebt | 32.50M | 27.51M | 33.45M | 51.55M |
| CurrentLiabilities | 18.86M | 18.31M | 39.53M | 21.96M |
| OtherCurrentLiabilities | 1.09M | 922.00K | 1.15M | 1.23M |
| CurrentDeferredLiabilities | 1.05M | 1.55M | 1.51M | 765.00K |
| CurrentDeferredRevenue | 1.05M | 1.55M | 1.51M | 765.00K |
| CurrentDebtAndCapitalLeaseObligation | 536.00K | 412.00K | 18.95M | 2.92M |
| CurrentCapitalLeaseObligation | 510.00K | 390.00K | 255.00K | 899.00K |
| CurrentDebt | 26.00K | 22.00K | 18.70M | 2.02M |
| OtherCurrentBorrowings | 26.00K | 22.00K | 18.70M | 2.02M |
| PensionandOtherPostRetirementBenefitPlansCurrent | 4.73M | 4.20M | 6.39M | 5.96M |
| PayablesAndAccruedExpenses | 11.46M | 11.22M | 11.52M | 11.09M |
| CurrentAccruedExpenses | 810.00K | 1.96M | 1.26M | 2.42M |
| InterestPayable | 17.00K | 1.01M | 183.00K | |
| Payables | 10.65M | 9.26M | 10.27M | 8.66M |
| TotalTaxPayable | 365.00K | 337.00K | 322.00K | 349.00K |
| AccountsPayable | 10.29M | 8.93M | 9.95M | 8.31M |
| TotalAssets | 101.42M | 57.42M | 57.07M | 61.99M |
| TotalNonCurrentAssets | 13.20M | 16.45M | 17.18M | 14.73M |
| OtherNonCurrentAssets | 1.22M | 1.44M | 1.45M | 903.00K |
| NonCurrentAccountsReceivable | 3.00M | 4.00M | 5.00M | 6.00M |
| GoodwillAndOtherIntangibleAssets | 0.00 | 1.28M | 1.44M | 51.00K |
| OtherIntangibleAssets | 1.28M | 1.44M | 51.00K | |
| NetPPE | 8.98M | 9.74M | 9.30M | 7.78M |
| AccumulatedDepreciation | -43.50M | -42.88M | -41.96M | -39.86M |
| GrossPPE | 52.48M | 52.62M | 51.26M | 47.64M |
| Leases | 21.42M | 21.39M | 21.38M | 21.27M |
| ConstructionInProgress | 2.11M | 2.03M | 1.47M | 1.16M |
| OtherProperties | 5.18M | 5.56M | 5.21M | 2.73M |
| MachineryFurnitureEquipment | 23.77M | 23.64M | 23.21M | 22.49M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 88.22M | 40.97M | 39.89M | 47.26M |
| OtherCurrentAssets | 3.29M | 1.85M | 2.13M | 3.08M |
| PrepaidAssets | 3.08M | |||
| Inventory | 6.04M | 6.77M | 5.78M | 4.04M |
| OtherInventories | 2.13M | 3.03M | 2.91M | 1.41M |
| FinishedGoods | 643.00K | 1.62M | 967.00K | 1.18M |
| RawMaterials | 3.27M | 2.12M | 1.90M | 1.44M |
| Receivables | 7.34M | 8.47M | 4.70M | 12.12M |
| ReceivablesAdjustmentsAllowances | -48.00K | -14.00K | -709.00K | -645.00K |
| OtherReceivables | 2.47M | 2.92M | 2.14M | 3.09M |
| AccountsReceivable | 4.92M | 5.57M | 3.27M | 9.68M |
| CashCashEquivalentsAndShortTermInvestments | 71.55M | 23.87M | 27.27M | 28.02M |
| CashAndCashEquivalents | 71.55M | 23.87M | 27.27M | 28.02M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -35.92M | -7.38M | -12.34M | -33.89M |
| RepaymentOfDebt | -23.00K | -53.63M | -2.02M | 0.00 |
| IssuanceOfDebt | 0.00 | 31.14M | 0.00 | |
| IssuanceOfCapitalStock | 83.76M | 8.91M | 13.59M | 29.78M |
| CapitalExpenditure | -159.00K | -995.00K | -2.52M | -913.00K |
| InterestPaidSupplementalData | 7.10M | 4.60M | 6.44M | 6.44M |
| IncomeTaxPaidSupplementalData | 305.00K | 0.00 | ||
| EndCashPosition | 71.55M | 23.87M | 27.27M | 28.02M |
| BeginningCashPosition | 23.87M | 27.27M | 28.02M | 31.81M |
| ChangesInCash | 47.67M | -3.40M | -751.00K | -3.78M |
| FinancingCashFlow | 83.59M | 3.97M | 11.59M | 30.11M |
| CashFlowFromContinuingFinancingActivities | 83.59M | 3.97M | 11.59M | 30.11M |
| NetOtherFinancingCharges | -1.11M | 9.20M | -3.00K | -14.00K |
| ProceedsFromStockOptionExercised | 964.00K | 8.35M | 34.00K | 343.00K |
| NetCommonStockIssuance | 83.76M | 8.91M | 13.59M | 29.78M |
| CommonStockIssuance | 83.76M | 8.91M | 13.59M | 29.78M |
| NetIssuancePaymentsOfDebt | -23.00K | -22.49M | -2.02M | 0.00 |
| NetLongTermDebtIssuance | -23.00K | -22.49M | -2.02M | 0.00 |
| LongTermDebtPayments | -23.00K | -53.63M | -2.02M | 0.00 |
| LongTermDebtIssuance | 0.00 | 31.14M | 0.00 | |
| InvestingCashFlow | -159.00K | -995.00K | -2.52M | -913.00K |
| CashFlowFromContinuingInvestingActivities | -159.00K | -995.00K | -2.52M | -913.00K |
| NetIntangiblesPurchaseAndSale | 0.00 | -1.50M | 0.00 | |
| PurchaseOfIntangibles | 0.00 | -1.50M | 0.00 | |
| CapitalExpenditureReported | -159.00K | -995.00K | -1.02M | -913.00K |
| OperatingCashFlow | -35.76M | -6.38M | -9.82M | -32.98M |
| CashFlowFromContinuingOperatingActivities | -35.76M | -6.38M | -9.82M | -32.98M |
| ChangeInWorkingCapital | -9.96M | -5.34M | 31.98M | -1.73M |
| ChangeInOtherWorkingCapital | -12.84M | 966.00K | 25.04M | 3.56M |
| ChangeInOtherCurrentLiabilities | 675.00K | 0.00 | ||
| ChangeInPayablesAndAccruedExpense | 1.29M | -3.54M | -74.00K | 381.00K |
| ChangeInAccruedExpense | -1.49M | -2.52M | -2.38M | -844.00K |
| ChangeInPayable | 2.78M | -1.02M | 2.31M | 1.23M |
| ChangeInAccountPayable | 2.78M | -1.02M | 1.63M | 1.23M |
| ChangeInPrepaidAssets | -223.00K | 1.29M | 1.40M | 1.26M |
| ChangeInInventory | 725.00K | -989.00K | -1.74M | -1.58M |
| ChangeInReceivables | 1.09M | -3.07M | 7.35M | -5.35M |
| OtherNonCashItems | 10.52M | 1.77M | 5.85M | 15.69M |
| StockBasedCompensation | 7.10M | 2.69M | 4.38M | 6.82M |
| DepreciationAmortizationDepletion | 718.00K | 1.34M | 2.39M | 2.96M |
| DepreciationAndAmortization | 718.00K | 1.34M | 2.39M | 2.96M |
| AmortizationCashFlow | 78.00K | |||
| AmortizationOfIntangibles | 78.00K | |||
| Depreciation | 640.00K | 1.34M | 2.39M | 2.96M |
| OperatingGainsLosses | 1.03M | 13.82M | ||
| NetIncomeFromContinuingOperations | -44.14M | -7.87M | -54.41M | -70.54M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for AQST
| Date | User | Asset | Broker | Type | Position Size | Entry Price | Patterns |
|---|