Oppenheimer raised the firm’s price target on Aquestive Therapeutics (AQST) to $8 from $7 and keeps an Outperform rating on the shares. The firm notes that last week, Aquestive announced that the FDA would not require an AdCom for its NDA of Anaphylm sending shares up +43.77% as investors interpret the update increasing the chances of approval. While Oppenheimer saw an AdCom as likely and increasing the path to approval given the established approval path with neffy and Analphylm’s novel route of administration, it appears the data package submitted suffices in guiding the FDA on addressing key topics for potential approval without the need for expert recommendations.
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