Aquestive Therapeutics, Inc. (AQST)
NASDAQHealth CareDrug Manufacturers - Specialty & GenericSnapshot 2026-11-05
$3.66-3.68%
Close 2026-11-05 · 1-day change
NASDAQHealth CareDrug Manufacturers - Specialty & GenericSnapshot 2026-11-05
Research Workspace
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Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Pharmaceuticals is in expansion. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Resubmit Anaphylm NDA in Q3 2026: FDA goal date March 2027 vs Q3 2026 target.
View ThesisRevenue growth is accelerating — up about 13% over the past year.
View GrowthManagement screens weak on capital allocation, earnings delivery, margins, the balance sheet, market reaction to earnings.
View ManagementExpectations look high — the market is pricing in about 60% growth a year, above the roughly 31% analysts expect, leaving little room for error.
View ValuationThis stock is highly volatile — it swings about 2% on a typical day and fell roughly 55% in its worst 12-month stretch.
View RiskAquestive's Anaphylm approval must arrive by March 2027 to justify the price. The FDA assigned a goal date of March 16, 2027 for the drug. Q2 revenue grew 38% year over year to $13.82 million. The stock trades at 9.4 times sales versus a 2.2 times peer median. The market is pricing in more growth than we forecast. The FDA goal date slipped to 2027, delaying the product launch. Our model puts the next-quarter miss probability near 40%. Peer multiples imply a price about 60% below where it trades. The thesis is on watch. This read is provisional.
Trailing returns as of 2026-11-05. AQST is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 9 analysts currently covering AQST (as of Nov 2026).
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
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Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 2 valuation methods, at three horizons. As of 2026-11-05. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Pharmaceuticals — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Compare the value case
Put AQST next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Threatens: Resubmit Anaphylm NDA in Q3 2026
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-11-05. EPS is implied from price ÷ P/E. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Below average on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
FDA goal date slips to 2027, delaying launch.
Threatens: Strengthen balance sheet and extend cash runway
Revenue miss signals slower commercial traction, pressuring cash runway.
Advances: Resubmit Anaphylm NDA in Q3 2026
FDA acceptance confirms the resubmission entered review, advancing the regulatory objective without guaranteeing approval.
Advances: Resubmit Anaphylm NDA in Q3 2026
Resubmission aligns with regulatory objective for Anaphylm NDA.
Advances: Resubmit Anaphylm NDA in Q3 2026
Resubmission supports regulatory objective for Anaphylm NDA.
Threatens: Resubmit Anaphylm NDA in Q3 2026
Downgrade indicates concerns about Anaphylm NDA resubmission.