Lake Street lowered the firm’s price target on Aquestive Therapeutics (AQST) to $6 from $8 and keeps a Buy rating on the shares after the company announced the receipt of a CRL for Anaphylm and a planned resubmission in Q3. The firm adjusted its revenue estimates accordingly and lowered its price target to account for the delay in the approval of Anaphylm.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AQST:
- Reaffirming Buy on Anaphylm: Navigable FDA CRL, Limited Incremental Costs, and Intact 2027 Approval Timeline
- Buy Rating Reaffirmed on Aquestive Therapeutics as Operational FDA Setbacks De-Risk Anaphylm’s Path to Approval
- Alliance Global sees Aquestive’s Anaphylm CRL as fixable, reiterates Buy rating
- Buy Rating Maintained on Aquestive Therapeutics as FDA CRL Seen as Operational Setback with Manageable Risk and Attractive Long‑Term Risk‑Reward
- Leerink sees ‘silver lining’ in Aquestive CRL given defined path to approval