Aquestive Therapeutics, Inc. (AQST) AI Stock Analysis

Founded in 2004 and headquartered in Warren, New Jersey, Aquestive Therapeutics, Inc. is a pharmaceutical company that identifies, develops, and commercializes products for unmet medical needs. The company utilizes advanced drug delivery technologies, offering marketed products such as Sympazan for Lennox-Gastaut syndrome, Suboxone for opioid dependence, Zuplenz for nausea and vomiting, and Azstarys for attention deficit hyperactivity disorder. Its proprietary candidates include Libervant for seizures and Exservan for amyotrophic lateral sclerosis. Aquestive is also advancing pipeline products including AQST-108, AQST-305 for acromegaly, AQST-109 for emergency allergy treatment, and KYNMOBI.

Annual revenue decreased from $50.8M in FY2021 to $47.7M in FY2022, rose to $50.6M in FY2023 and $57.6M in FY2024, before falling 22.6% to $44.5M in FY2025. Across the five-year period from FY2020 to FY2025, revenue posted a CAGR of -0.6%. Gross margin reached 61.5% in FY2025, down from 69.0% in FY2024. Operating margin worsened from -53.5% in FY2024 to -156.4% in FY2025, with net income dropping to -$83.8M, representing a net margin of -188.1% and diluted EPS of -$0.74. For the trailing twelve months ending June 30, 2026, revenue stood at $54.1M, with the latest quarter showing year-over-year revenue growth of 38.1%.

As of the quarter ended June 30, 2026, Aquestive Therapeutics held $98.5M in cash and short-term investments against total debt of $59.0M, resulting in net cash of $39.5M. Total assets stood at $132.1M, and the company reported a current ratio of 7.19. However, shareholders' equity was -$56.6M. Operating cash flow in FY2025 was -$52.4M, with free cash flow at -$53.0M after capital expenditures of $562,000. Additionally, the company's share count increased 209.5% over five years.

Aquestive Therapeutics carries a market cap of $474.4M and an enterprise value of $550.4M. Its price-to-sales multiple is 8.8x, and its EV-to-revenue ratio is 10.2x, compared to a median price-to-sales ratio of 4.1x for its US-listed Healthcare peers. Over the past year, AQST stock declined 46.1%, while the S&P 500 (SPY) gained 16.8%. Over a five-year horizon, the stock fell 2.3%, trailing the S&P 500 return of 83.0%. The stock closed at $3.78 on October 16, 2026, sitting 11.4% below its 200-day average.

Wall Street coverage includes 7 Strong Buy ratings, 2 Buy ratings, and zero Hold, Sell, or Strong Sell recommendations. The mean price target is $9.33, representing a 146.9% premium over the last close of $3.78. For the fiscal year ending December 31, 2026, analysts estimate revenue of $51.0M and an EPS of -$0.45. For the next fiscal year, consensus estimates anticipate revenue of $67.8M and an EPS of -$0.57. Over the last four quarters, the company beat EPS estimates 1 time. The next earnings date is November 4, 2026.

This page is an AI-written research summary of Aquestive Therapeutics, Inc. (AQST). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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