AQST - Aquestive upgraded at Wedbush after Q4 cash update
2023-03-09 11:14:00 ET
- Aquestive Therapeutics ( NASDAQ: AQST ) ticked higher in the morning hours Thursday, shortly after Wedbush upgraded its shares to Outperform from Neutral, citing an extended cash runway following the company's Q4 2022 results.
- The analyst Andreas Argyrides notes that following a $20M non-dilutive capital the company received in Q1 2023, Aquestive's ( AQST ) cash runway has been extended to Q2 2024 from Q3 2023 by his estimates.
- This additional liquidity, proper cost management, and potential for more non-dilutive financing from out-licensing arrangements for its seizure therapy Libervant and epinephrine oral film AQST-109 has made Argyrides think that the company can advance the latter through a pivotal trial.
- Supporting his bullish thesis, the analyst points to a survey of 28 U.S. allergists to argue that there is a "robust commercial opportunity" for needle-free epinephrine options such as AQST-109.
- Wedbush raised Aquestive's ( AQST ) price target to $4 from $3 with its upgrade.
- Seeking Alpha contributor Biologics who has included AQST as a "Top Idea," reviewed AQST-109 in a recent bullish thesis on the stock.
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Aquestive upgraded at Wedbush after Q4 cash update