AQST Stock Analysis: Aquestive Therapeutics | NASDAQ
Drug Manufacturers - Specialty & Generic | NASDAQ, USA | Market Cap: 648m USD | 12M Return: 40.5% | US03843E1047 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 15.2M
Qual. Beats: -1
Rev. Trend: -25.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Aquestive Therapeutics is a U.S.-based specialty pharmaceutical company headquartered in Warren, New Jersey, that develops and commercializes oral soluble film and sublingual formulations of established drug compounds, primarily targeting central nervous system (CNS) disorders. Its commercial portfolio spans neurology and psychiatry products including Libervant (diazepam buccal film), Suboxone (buprenorphine/naloxone sublingual film), SYMPAZAN (clobazam), KYNMOBI (apomorphine), and AZSTARYS for ADHD, along with EMYLIF (riluzole) and ONDIF (ondansetron).
The companys pipeline includes Anaphylm, an epinephrine sublingual film in Phase 3 development for anaphylaxis, and AQST-108, a topical gel in Phase 2 trials for alopecia areata. Aquestives business model is centered on its proprietary PharmFilm technology platform, which reformulates existing active pharmaceutical ingredients into thin, dissolvable oral films designed to improve onset, convenience, and patient compliance relative to traditional pills or injections. The company also operates the Adrenaverse epinephrine prodrug platform and derives a meaningful portion of its revenue from manufacturing and royalty agreements with larger pharma partners.
- Anaphylm Phase 3 readout and FDA approval decision pending
- AZSTARYS ADHD royalty revenue scales with Corium partnership
- Suboxone faces generic erosion, pressuring legacy film revenue
- Cash runway concerns prompt potential dilutive capital raise
| Net Income: -78.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.52 > 0.02 and ΔFCF/TA 9.02 > 1.0 |
| NWC/Revenue: 188.6% < 20% (prev 132.7%; Δ 55.91% < -1%) |
| CFO/TA -0.34 > 3% & CFO -45.4m > Net Income -78.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 7.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (125.0m) vs 12m ago 25.84% < -2% |
| Gross Margin: 67.04% > 18% (prev 61.09%; Δ 5.94% > 0.5%) |
| Asset Turnover: 47.91% > 50% (prev 47.10%; Δ 0.81% > 0%) |
| Interest Coverage Ratio: -3.79 > 6 (EBIT TTM -61.9m / Interest Expense TTM 16.3m) |
| A: 0.77 (Total Current Assets 118.5m - Total Current Liabilities 16.5m) / Total Assets 132.1m |
| B: -3.62 (Retained Earnings -477.9m / Total Assets 132.1m) |
| C: -0.55 (EBIT TTM -61.9m / Avg Total Assets 112.9m) |
| D: -0.30 (Book Value of Equity -56.6m / Total Liabilities 188.7m) |
| Altman-Z'' = -10.73 = D |
| DSRI: 0.64 (Receivables 9.33m/11.9m, Revenue 54.1m/44.1m) |
| GMI: 0.91 (GM 61.09% / 67.04%) |
| AQI: 0.38 (AQ_t 0.01 / AQ_t-1 0.03) |
| SGI: 1.23 (Revenue 54.1m / 44.1m) |
| TATA: -0.25 (NI -78.2m - CFO -45.4m) / TA 132.1m) |
| Beneish M = -3.64 (Cap -4..+1) = AAA |
As of September 03, 2026, the stock is trading at USD 5.38 with a total of 1,810,788 shares traded. Over the past week, the price has changed by -0.19%, over one month by +41.95%, over three months by +36.90% and over the past year by +40.47%.
Current recommended Stop Loss: 5.00 (which is 7.1% or 1.5 ATR below the current price).
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
| Analysts Target Price | 9.3 | 73.4% |
P/S = 11.974
P/B = 14.1476
Revenue TTM = 54.1m USD
EBIT TTM = -61.9m USD
EBITDA TTM = -61.3m USD
Long Term Debt = 27.5m USD (from longTermDebt, last fiscal year)
Short Term Debt = 820k USD (from shortTermDebt, last quarter)
Debt = 63.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 4.82m
Net Debt = 61.4m USD (calculated: Debt 63.8m - CCE 2.41m)
Enterprise Value = 709.0m USD (647.6m + Debt 63.8m - CCE 2.41m)
Interest Coverage Ratio = -3.79 (Ebit TTM -61.9m / Interest Expense TTM 16.3m)
EV/FCF = -10.29x (Enterprise Value 709.0m / FCF TTM -68.9m)
FCF Yield = -9.72% (FCF TTM -68.9m / Enterprise Value 709.0m)
FCF Margin = -127.4% (FCF TTM -68.9m / Revenue TTM 54.1m)
Net Margin = -144.6% (Net Income TTM -78.2m / Revenue TTM 54.1m)
Gross Margin = 67.04% ((Revenue TTM 54.1m - Cost of Revenue TTM 17.8m) / Revenue TTM)
Gross Margin QoQ = 70.93% (prev 75.99%)
Tobins Q-Ratio = 5.37 (Enterprise Value 709.0m / Total Assets 132.1m)
Interest Expense / Debt = 25.58% (Interest Expense 16.3m / Debt 63.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -48.9m (EBIT -61.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.66 (Total Current Assets 118.5m / Total Current Liabilities 25.4m)
Debt / Equity = -1.13 (negative equity) (Debt 63.8m / totalStockholderEquity, last quarter -56.6m)
Debt / EBITDA = -1.00 (negative EBITDA) (Net Debt 61.4m / EBITDA -61.3m)
Debt / FCF = -0.89 (negative FCF - burning cash) (Net Debt 61.4m / FCF TTM -68.9m)
Total Stockholder Equity = -32.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -69.29% (Net Income -78.2m / Total Assets 132.1m)
RoE = 243.7% (negative equity) (Net Income TTM -78.2m / Total Stockholder Equity -32.1m)
RoCE = 1.35k% (out of range, set to none) (EBIT -61.9m / Capital Employed (Equity -32.1m + L.T.Debt 27.5m))
RoIC = -42.89% (negative operating profit) (NOPAT -48.9m / Invested Capital 114.0m)
WACC = 8.18% (E(647.6m)/V(711.5m) * Re(6.99%) + D(63.8m)/V(711.5m) * Rd(25.58%) * (1-Tc(0.21)))
Discount Rate = 6.99% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.51 | Cagr: 26.53%
[DCF] Fair Price = unknown (Cash Flow -68.9m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.05 | # QB: -1
Revenue Correlation: -25.27 | Revenue CAGR: -3.00% | SUE: 0.66 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.12 | Chg30d=+0.00% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.45 | Chg30d=-7.14% | Revisions=+25% | GrowthEPS=+23.6% | GrowthRev=+12.1%
EPS next Year (2027-12-31): EPS=-0.57 | Chg30d=-26.67% | Revisions=-25% | GrowthEPS=-26.7% | GrowthRev=+35.7%
[Analyst] Revisions Ratio: -17% (up=1, down=2)