(AQST) Aquestive Therapeutics - Overview

Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: NASDAQ (USA) | Market Cap: 498m USD | Total Return: 66.3% in 12m

Medicines, Films, Treatments, Therapies
Total Rating 34
Safety 28
Buy Signal -0.12
Drug Manufacturers - Specialty & Generic
Industry Rotation: -1.6
Market Cap: 498M
Avg Turnover: 5.35M USD
ATR: 4.44%
Peers RS (IBD): 42.8
Risk 5d forecast
Volatility77.1%
Rel. Tail Risk-12.9%
Reward TTM
Sharpe Ratio1.02
Alpha43.47
Character TTM
Beta0.660
Beta Downside1.389
Drawdowns 3y
Max DD63.55%
CAGR/Max DD0.72
EPS (Earnings per Share) EPS (Earnings per Share) of AQST over the last years for every Quarter: "2021-03": -0.41, "2021-06": -0.33, "2021-09": -0.37, "2021-12": -0.38, "2022-03": -0.32, "2022-06": -0.36, "2022-09": -0.23, "2022-12": -0.23, "2023-03": -0.12, "2023-06": -0.1, "2023-09": -0.03, "2023-12": -0.11, "2024-03": -0.17, "2024-06": -0.03, "2024-09": -0.13, "2024-12": -0.1607, "2025-03": -0.2235, "2025-06": -0.14, "2025-09": -0.14, "2025-12": -0.26, "2026-03": 0,
EPS CAGR: 140.14%
EPS Trend: 32.5%
Last SUE: 1.93
Qual. Beats: 1
Revenue Revenue of AQST over the last years for every Quarter: 2021-03: 11.122, 2021-06: 15.345, 2021-09: 13.287, 2021-12: 11.078, 2022-03: 12.27, 2022-06: 13.265, 2022-09: 11.463, 2022-12: 10.682, 2023-03: 11.134, 2023-06: 13.241, 2023-09: 13.002, 2023-12: 13.206, 2024-03: 12.053, 2024-06: 20.099, 2024-09: 13.542, 2024-12: 11.867, 2025-03: 8.72, 2025-06: 10.003, 2025-09: 12.807, 2025-12: 13.015, 2026-03: null,
Rev. CAGR: 1.58%
Rev. Trend: -6.1%
Last SUE: -0.08
Qual. Beats: 0

Warnings

Negative Equity with losses - insolvent profile

Share dilution 23.0% YoY - potential capital distress

Interest Coverage Ratio -4.0 is critical

Altman Z'' -10.83 < 1.0 - financial distress zone

Volatile

Tailwinds

No distinct edge detected

Description: AQST Aquestive Therapeutics

Aquestive Therapeutics, Inc. (AQST) is a pharmaceutical company operating in the United States and internationally. It specializes in developing and commercializing pharmaceutical products, primarily utilizing its proprietary PharmFilm technology for oral soluble films.

AQSTs product portfolio includes treatments for seizures (Libervant), opioid dependence (Suboxone), Lennox-Gastaut syndrome (Sympazan), Parkinsons disease (KYNMOBI), and ADHD (Azstarys). The company also has pipeline products in various clinical trial phases, such as Anaphylm for allergic reactions and AQST-108 for alopecia areata. The pharmaceutical sector is characterized by extensive research and development cycles and stringent regulatory approval processes.

AQSTs business model focuses on drug development and commercialization, often involving intellectual property protection and partnerships. This approach is common in the pharmaceutical industry, where companies invest heavily in R&D to bring new drugs to market.

Further research on ValueRay can provide deeper insights into AQSTs financial performance and market position.

Headlines to Watch Out For
  • Libervant commercialization success drives revenue growth
  • Anaphylm clinical trial results impact future valuation
  • Regulatory approval for pipeline products crucial for expansion
  • Competition in CNS disorder treatments affects market share
Piotroski VR‑10 (Strict) 1.5
Net Income: -83.8m TTM > 0 and > 6% of Revenue
FCF/TA: -0.33 > 0.02 and ΔFCF/TA 2.38 > 1.0
NWC/Revenue: 228.2% < 20% (prev 120.5%; Δ 107.7% < -1%)
CFO/TA -0.33 > 3% & CFO -52.4m > Net Income -83.8m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 3.14 > 1.5 & < 3
Outstanding Shares: last quarter (122.0m) vs 12m ago 33.74% < -2%
Gross Margin: 58.35% > 18% (prev 0.69%; Δ 5.77k% > 0.5%)
Asset Turnover: 34.02% > 50% (prev 56.75%; Δ -22.73% > 0%)
Interest Coverage Ratio: -3.97 > 6 (EBITDA TTM -64.6m / Interest Expense TTM 17.1m)
Altman Z'' -10.83
A: 0.63 (Total Current Assets 149.3m - Total Current Liabilities 47.6m) / Total Assets 160.4m
B: -2.79 (Retained Earnings -447.0m / Total Assets 160.4m)
C: -0.52 (EBIT TTM -67.9m / Avg Total Assets 130.9m)
D: -2.30 (Book Value of Equity -446.9m / Total Liabilities 194.1m)
Altman-Z'' Score: -10.83 = D
Beneish M -1.83
DSRI: 3.13 (Receivables 17.8m/7.34m, Revenue 44.5m/57.6m)
GMI: 1.18 (GM 58.35% / 68.95%)
AQI: 0.40 (AQ_t 0.02 / AQ_t-1 0.04)
SGI: 0.77 (Revenue 44.5m / 57.6m)
TATA: -0.20 (NI -83.8m - CFO -52.4m) / TA 160.4m)
Beneish M-Score: -1.83 (Cap -4..+1) = B
What is the price of AQST shares? As of April 14, 2026, the stock is trading at USD 4.19 with a total of 968,830 shares traded.
Over the past week, the price has changed by +2.44%, over one month by +4.23%, over three months by +22.51% and over the past year by +66.27%.
Is AQST a buy, sell or hold? Aquestive Therapeutics has received a consensus analysts rating of 4.56. Therefore, it is recommended to buy AQST.
  • StrongBuy: 5
  • Buy: 4
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the AQST price?
Analysts Target Price 8.9 112.2%
Aquestive Therapeutics (AQST) - Fundamental Data Overview as of 12 April 2026
P/S = 11.1784
P/B = 14.1476
Revenue TTM = 44.5m USD
EBIT TTM = -67.9m USD
EBITDA TTM = -64.6m USD
Long Term Debt = 27.5m USD (from longTermDebt, last quarter)
Short Term Debt = 11.6m USD (from shortTermDebt, last quarter)
Debt = 131.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.3m USD (from netDebt column, last quarter)
Enterprise Value = 508.2m USD (497.9m + Debt 131.4m - CCE 121.2m)
Interest Coverage Ratio = -3.97 (Ebit TTM -67.9m / Interest Expense TTM 17.1m)
EV/FCF = -9.59x (Enterprise Value 508.2m / FCF TTM -53.0m)
FCF Yield = -10.43% (FCF TTM -53.0m / Enterprise Value 508.2m)
 FCF Margin = -119.0% (FCF TTM -53.0m / Revenue TTM 44.5m)
 Net Margin = -188.1% (Net Income TTM -83.8m / Revenue TTM 44.5m)
Gross Margin = 58.35% ((Revenue TTM 44.5m - Cost of Revenue TTM 18.6m) / Revenue TTM)
Gross Margin QoQ = 55.16% (prev 64.82%)
Tobins Q-Ratio = 3.17 (Enterprise Value 508.2m / Total Assets 160.4m)
Interest Expense / Debt = 3.25% (Interest Expense 4.27m / Debt 131.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -53.7m (EBIT -67.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.14 (Total Current Assets 149.3m / Total Current Liabilities 47.6m)
 Debt / Equity = -3.90 (negative equity) (Debt 131.4m / totalStockholderEquity, last quarter -33.7m)
 Debt / EBITDA = -0.16 (negative EBITDA) (Net Debt 10.3m / EBITDA -64.6m)
 Debt / FCF = -0.19 (negative FCF - burning cash) (Net Debt 10.3m / FCF TTM -53.0m)
 Total Stockholder Equity = -42.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -63.99% (Net Income -83.8m / Total Assets 160.4m)
 RoE = 195.7% (negative equity) (Net Income TTM -83.8m / Total Stockholder Equity -42.8m)
 RoCE = 443.9% (negative capital employed) (EBIT -67.9m / Capital Employed (Equity -42.8m + L.T.Debt 27.5m))
 RoIC = -1.39k% (out of range, set to none) (NOPAT -53.7m / Invested Capital 3.85m)
 WACC = 7.10% (E(497.9m)/V(629.4m) * Re(8.30%) + D(131.4m)/V(629.4m) * Rd(3.25%) * (1-Tc(0.21)))
Discount Rate = 8.30% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 32.44%
 [DCF] Fair Price = unknown (Cash Flow -53.0m)
 EPS Correlation: 32.54 | EPS CAGR: 140.1% | SUE: 1.93 | # QB: 1
Revenue Correlation: -6.13 | Revenue CAGR: 1.58% | SUE: -0.08 | # QB: 0
EPS next Quarter (2026-06-30): EPS=-0.12 | Chg7d=+0.015 | Chg30d=+0.015 | Revisions Net=+0 | Analysts=2
EPS current Year (2026-12-31): EPS=-0.46 | Chg7d=+0.067 | Chg30d=+0.067 | Revisions Net=-1 | Growth EPS=+21.9% | Growth Revenue=+7.9%
EPS next Year (2027-12-31): EPS=-0.58 | Chg7d=-0.255 | Chg30d=-0.255 | Revisions Net=-1 | Growth EPS=-26.1% | Growth Revenue=+49.5%
[Analyst] Revisions Ratio: -1.00 (0 Up / 1 Down within 30d for Current Year)
External Resources
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