AQST Stock Analysis: Aquestive Therapeutics | NASDAQ
Drug Manufacturers - Specialty & Generic | NASDAQ, USA | Market Cap: 532m USD | 12M Return: 0.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 8.57M
Qual. Beats: 1
Rev. Trend: -22.0%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.9 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: -68.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.43 > 0.02 and ΔFCF/TA 2.85 > 1.0 |
| NWC/Revenue: 195.8% < 20% (prev 130.7%; Δ 65.11% < -1%) |
| CFO/TA -0.31 > 3% & CFO -43.8m > Net Income -68.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (122.6m) vs 12m ago 28.39% < -2% |
| Gross Margin: 63.45% > 18% (prev 68.40%; Δ -4.95% > 0.5%) |
| Asset Turnover: 41.31% > 50% (prev 53.04%; Δ -11.73% > 0%) |
| Interest Coverage Ratio: -3.11 > 6 (EBIT TTM -52.2m / Interest Expense TTM 16.8m) |
| A: 0.70 (Total Current Assets 130.2m - Total Current Liabilities 31.8m) / Total Assets 141.1m |
| B: -3.22 (Retained Earnings -455.1m / Total Assets 141.1m) |
| C: -0.43 (EBIT TTM -52.2m / Avg Total Assets 121.7m) |
| D: -0.19 (Book Value of Equity -34.1m / Total Liabilities 175.2m) |
| Altman-Z'' = -9.02 = D |
| DSRI: 0.71 (Receivables 6.87m/10.4m, Revenue 50.3m/54.2m) |
| GMI: 1.08 (GM 68.40% / 63.45%) |
| AQI: 0.45 (AQ_t 0.02 / AQ_t-1 0.04) |
| SGI: 0.93 (Revenue 50.3m / 54.2m) |
| TATA: -0.18 (NI -68.9m - CFO -43.8m) / TA 141.1m) |
| Beneish M = -3.59 (Cap -4..+1) = AAA |
As of July 14, 2026, the stock is trading at USD 4.06 with a total of 1,612,698 shares traded. Over the past week, the price has changed by -4.25%, over one month by -3.79%, over three months by -3.10% and over the past year by +0.74%.
Current recommended Stop Loss: 3.80 (which is 6.4% or 1.2 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 | 8.9 | 119% |
P/S = 10.5822
P/B = 14.1476
Revenue TTM = 50.3m USD
EBIT TTM = -52.2m USD
EBITDA TTM = -51.6m USD
Long Term Debt = 25.1m USD (from longTermDebt, last quarter)
Short Term Debt = 15.3m USD (from shortTermDebt, last quarter)
Debt = 138.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 4.82m
Net Debt = 38.9m USD (calculated: Debt 138.4m - CCE 99.5m)
Enterprise Value = 570.9m USD (532.0m + Debt 138.4m - CCE 99.5m)
Interest Coverage Ratio = -3.11 (Ebit TTM -52.2m / Interest Expense TTM 16.8m)
EV/FCF = -9.43x (Enterprise Value 570.9m / FCF TTM -60.5m)
FCF Yield = -10.60% (FCF TTM -60.5m / Enterprise Value 570.9m)
FCF Margin = -120.4% (FCF TTM -60.5m / Revenue TTM 50.3m)
Net Margin = -137.1% (Net Income TTM -68.9m / Revenue TTM 50.3m)
Gross Margin = 63.45% ((Revenue TTM 50.3m - Cost of Revenue TTM 18.4m) / Revenue TTM)
Gross Margin QoQ = 75.99% (prev 55.16%)
Tobins Q-Ratio = 4.05 (Enterprise Value 570.9m / Total Assets 141.1m)
Interest Expense / Debt = 12.11% (Interest Expense 16.8m / Debt 138.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -41.2m (EBIT -52.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.98 (Total Current Assets 130.2m / Total Current Liabilities 43.6m)
Debt / Equity = -4.06 (negative equity) (Debt 138.4m / totalStockholderEquity, last quarter -34.1m)
Debt / EBITDA = -0.75 (negative EBITDA) (Net Debt 38.9m / EBITDA -51.6m)
Debt / FCF = -0.64 (negative FCF - burning cash) (Net Debt 38.9m / FCF TTM -60.5m)
Total Stockholder Equity = -36.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -56.63% (Net Income -68.9m / Total Assets 141.1m)
RoE = 190.9% (negative equity) (Net Income TTM -68.9m / Total Stockholder Equity -36.1m)
RoCE = 473.9% (negative capital employed) (EBIT -52.2m / Capital Employed (Equity -36.1m + L.T.Debt 25.1m))
RoIC = -33.72% (negative operating profit) (NOPAT -41.2m / Invested Capital 122.2m)
WACC = 8.66% (E(532.0m)/V(670.4m) * Re(8.43%) + D(138.4m)/V(670.4m) * Rd(12.11%) * (1-Tc(0.21)))
Discount Rate = 8.43% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.84 | Cagr: 29.50%
[DCF] Fair Price = unknown (Cash Flow -60.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.07 | # QB: 1
Revenue Correlation: -21.98 | Revenue CAGR: -2.65% | SUE: 1.10 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.12 | Chg30d=-4.35% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.12 | Chg30d=-9.09% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.42 | Chg30d=+8.70% | Revisions=+25% | GrowthEPS=+28.7% | GrowthRev=+13.4%
EPS next Year (2027-12-31): EPS=-0.45 | Chg30d=+22.41% | Revisions=-25% | GrowthEPS=-7.1% | GrowthRev=+42.4%
[Analyst] Revisions Ratio: -29% (up=1, down=3)