Aquestive Therapeutics, Inc. (NASDAQ:AQST) Sees Large Growth in Short Interest

Aquestive Therapeutics, Inc. (NASDAQ:AQST) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 7,180,000 shares, a growth of 7.2% from the May 31st total of 6,700,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 3.6 days.

Aquestive Therapeutics Trading Down 0.4 %

Shares of AQST stock opened at $2.41 on Thursday. The stock has a 50 day simple moving average of $2.99 and a 200 day simple moving average of $3.20. Aquestive Therapeutics has a 1 year low of $1.25 and a 1 year high of $6.23. The stock has a market cap of $219.41 million, a P/E ratio of -5.74 and a beta of 2.81.

Aquestive Therapeutics (NASDAQ:AQST) last released its earnings results on Monday, May 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). The firm had revenue of $12.05 million during the quarter, compared to the consensus estimate of $12.22 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Analysts forecast that Aquestive Therapeutics will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Aquestive Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AQST. SG Americas Securities LLC acquired a new position in Aquestive Therapeutics during the first quarter valued at approximately $54,000. Jump Financial LLC acquired a new position in shares of Aquestive Therapeutics during the 4th quarter worth $60,000. Lazard Asset Management LLC lifted its position in shares of Aquestive Therapeutics by 115.5% during the 1st quarter. Lazard Asset Management LLC now owns 29,112 shares of the company’s stock worth $124,000 after buying an additional 15,601 shares during the last quarter. PFG Investments LLC acquired a new stake in Aquestive Therapeutics in the first quarter valued at about $204,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Aquestive Therapeutics by 14.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 247,828 shares of the company’s stock valued at $379,000 after acquiring an additional 30,898 shares during the last quarter. 32.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on AQST. Leerink Partnrs upgraded shares of Aquestive Therapeutics to a “strong-buy” rating in a report on Friday, May 10th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Aquestive Therapeutics in a report on Wednesday, June 5th. SVB Leerink initiated coverage on shares of Aquestive Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $8.00 price objective for the company. Piper Sandler initiated coverage on Aquestive Therapeutics in a research report on Thursday, April 11th. They issued an “overweight” rating and a $10.00 target price on the stock. Finally, Raymond James started coverage on Aquestive Therapeutics in a report on Thursday, March 28th. They set an “outperform” rating and a $7.00 price target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.83.

About Aquestive Therapeutics

Aquestive Therapeutics, Inc operates as a pharmaceutical company in the United States and internationally. The company markets Sympazan, an oral soluble film formulation of clobazam for the treatment of lennox-gastaut syndrome; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; Zuplenz, an oral soluble film formulation of ondansetron for the treatment of nausea and vomiting associated with chemotherapy and post-operative recovery; and Azstarys, a once-daily product for the treatment of attention deficit hyperactivity disorder.