AQUESTIVE THERAPEUTICS INC (AQST)
Health Care · Specialty pharmaceutical film formulations and oral solid delivery · NASDAQ
Aquestive develops orally disintegrating film formulations for CNS disorders, acute seizures, and opioid use, leveraging proprietary sublingual and buccal film platforms.
What AQUESTIVE THERAPEUTICS INC does
Aquestive Therapeutics is a specialty pharmaceutical company focused on developing and commercializing proprietary drug formulations using its sublingual and buccal film technologies. The company manufactures and distributes both FDA-approved licensed products (including Suboxone, Emylif, Ondif, and Sympazan) and its pipeline candidates targeting conditions including acute repetitive seizures, ADHD, and ALS. With manufacturing and primary packaging facilities in Portage, Indiana, Aquestive has produced over 2.5 billion doses since inception and maintains cGMP-compliant operations registered with the DEA for controlled substances.
Themes: CNS/seizure disorders, Oral disintegrating films, Acute repetitive seizures (ARS), Opioid use disorder / buprenorphine, Emergency epinephrine, Drug delivery platforms, Orphan drugs
Fundamentals
- Price$4.66 as of 2026-08-21 close
- Market cap$585M as of 2026-08-21
- 1-year return+19.2% 2025-08-21 close $3.91 → 2026-08-21 close $4.66
- P/En/a negative earnings
- Net margin-137.1% as of 2026-08-24
- Gross margin+63.5% as of 2026-08-24
- ROE-21.8% as of 2026-08-24
- Debt / equity4.68 as of 2026-08-24
- Revenue growth (YoY)-7.3% as of 2026-08-24
- Revenue CAGR (3y)-2.2% SEC XBRL
- Beta1.49 as of 2026-08-24
- Last reported earnings2026-08-11 SEC EDGAR Form 8-K (Item 2.02)
How AQST compares in its sector
- net profit marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- operating marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- gross marginmiddle range 384 covered Health Care peers, as of 2026-08-24
- return on equitymiddle range 576 covered Health Care peers, as of 2026-08-24
- 3-year revenue CAGRbottom 25% 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)middle range 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How AQUESTIVE THERAPEUTICS INC looks technically
AQUESTIVE THERAPEUTICS INC (AQST) is trading 2.8% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed below its 200-day average about 123 trading days ago — a "death cross", a bearish long-term signal. A strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 29, with buyers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 67, neither overbought (above 70) nor oversold (below 30). It just made a new 20-day high, its first since 2026-06-24, pushing above its recent trading range. It is 38.3% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 2.8% above its 200-day average, the long-term trend line — a longer-term uptrend | +2.8% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $4.17 | $4.17 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $4.53 | $4.53 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing high 10 calendar days ago — the swings before that are what the structure reading is measured on | 10 sessions |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 123 trading days ago — a "death cross", a bearish long-term signal | 123 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 2.8% above | +2.8% |
| Trend strength (14-day ADX) | a strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 29, with buyers in control | 29.4 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 67, neither overbought (above 70) nor oversold (below 30) | 67.4 |
|---|---|---|
| Position in its 14-day range | it is trading near the top of its 14-day range ($3.65 to $4.75) — its "stochastic" reading is 92 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 92.2 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 12 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $7.55 | $7.55 |
|---|---|---|
| From the 52-week high | it is 38.3% below its 52-week high (its highest price of the past year) | -38.3% |
| Above the 52-week low | it is 59.0% above its 52-week low (its lowest price of the past year) | +59.0% |
| Below the 52-week high | it is 38.3% below its highest point of the past year | 38.3% |
| Since a 20-day breakout | it just made a new 20-day high, its first since 2026-06-24, pushing above its recent trading range | 1 session |
| Since a 55-day breakout | it made a new 55-day low about 18 trading days ago | 18 sessions |
| All-time high | its highest closing price on record is $20.70 (set on 2018-09-13) | $20.70 |
| Given back of the 52-week move | over the past year its closes ranged ($2.95 to $7.49), and it has recovered roughly a third of its fall from last year’s high — 38% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $5.76 to $5.90. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 37.7% |
| From the all-time high | it is 77.5% below its all-time high | -77.5% |
| Nearest price level | it is trading 0.6% below a resistance level at $4.69 — a price it turned at twice since 2024-10-21, most recently on 2026-08-11. Since 2024-08-21 it has 12 such levels below the current price and 4 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +0.6% |
| All-time low | its lowest closing price on record is $0.618 (set on 2022-07-01) | $0.618 |
| Above the all-time low | it is 654.0% above its all-time low | +654.0% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually wide versus its own recent history (wider than about 94% of the past ~6 months) | 94th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.2445 between its high and its low — about 5.3% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.2445 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $3.41 and $4.73 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $3.41 – $4.07 – $4.73 |
| Typical daily range (% of price) | its price moves about 5.3% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 5.3% |
| Stretch from the 200-day average | it is trading 0.5 daily ranges above its 200-day average price (2.8% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.5 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.65× |
|---|
Analyst
2
| Change in the average price target | analysts have raised their average price target by 3.7% since the prior reading | +3.8% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
1
| Since a doji | 6 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 6 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 1.0% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and had not traded back through that level by the close | +1.0% |
|---|---|---|
| Open gap | it gapped 10.4% above the previous close 9 sessions ago and has not traded back through the level it left behind at 3.94 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +10.4% |
| Gap filled | a 3.2% gap down opened on 2026-08-12 has been "filled" 7 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 7 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 13.0 percentage points (the stock gained 15.3% while the market gained 2.3%) | +13.0% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 7.1 percentage points (the stock gained 10.2% while the market gained 3.1%) | +7.1% |
| vs market, 6 months | over the past 6 months this stock beat the market by 6.9 percentage points (the stock gained 18.0% while the market gained 11.1%) | +6.9% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 1.3 percentage points (the stock gained 19.2% while the market gained 20.5%) | -1.3% |
Signal agreement
2
| Bullish technical signals | 6 of the 9 technical signals we can compute for it are currently in a bullish state: a strong uptrend, with buyers in control, trading above its 200-day average, a fresh 20-day high, MACD momentum is positive, outperforming the market over 6 months, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 6 of 9 |
|---|---|---|
| Bearish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, near the top of its 14-day range (overbought) — these describe past price behaviour, not a forecast | 2 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 3.2% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is moderate, spanning 4.2% of the share price. | +3.2% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 15% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $4.07 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | +14.6% |
|---|
Price levels it has turned at before
AQST last closed at $4.66 on 2026-08-21. Since 2024-08-21 it has turned at 12 prices below its last close and 4 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $4.69 | Resistance | 0.6% above the last close | turned there twice · 2024-10-21 to 2026-08-11 |
| $4.52 | Support | 2.9% below the last close | turned there four times · 2024-09-27 to 2026-03-05 |
| $4.39 | Support | 5.8% below the last close | turned there four times · 2024-11-18 to 2026-07-07 |
| $4.28 | Support | 8.1% below the last close | turned there three times · 2025-08-12 to 2026-04-08 |
| $5.20 | Resistance | 11.5% above the last close | turned there three times · 2024-09-30 to 2026-06-24 |
| $5.29 | Resistance | 13.5% above the last close | turned there twice · 2024-09-20 to 2024-12-02 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Tested and reclaimed 200-day support · Pulled back from the 12-month high · Broke out to a new 20-day high · in a strong, established uptrend (ADX) · Analyst price target recently RAISED | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.22 mean, 1=Strong Buy…5=Strong Sell) — 9 analysts
- Mean price target$9.22 range $6.00 – $11.00; median $10.00
Analyst estimates, as of 2026-08-17. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for AQST
- Consensus EPS estimate-$0.12 next reporting period, as of 2026-08-17
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Revenue declining at 7.3% YoY with negative 137% net margin; company remains unprofitable and dependent on manufacturing and licensing operations to fund R&D pipeline.","Regulatory and commercialization challenges: Libervant FDA approval process and market access remain unclear; multiple pipeline candidates (ADHD, ALS, epinephrine) require successful clinical development and regulatory approval.","Manufacturing and supply chain concentration: Packaging foil supplied by single manufacturer; operations subject to FDA, DEA, and international regulatory inspections; failure to maintain cGMP compliance could result in product seizure, recall, or suspension of operations."]
What changed in the latest 10-Q
AI-assisted comparison of AQST's 10-Q filed 2026-05-13 against the prior one filed 2025-11-05.
Management's Discussion & Analysis (MD&A)
- Added:
- Reference to Complete Response Letter (CRL) dated January 30, 2026 and FDA Type A meeting on March 26, 2026 regarding Anaphylm
- Mention of 'AdrenaVerse™ pipeline' (versus 'Adrenaverse™ pipeline' in older filing)
- Reference to 'design and timing of clinical studies including those necessary to support the targeted indication of alopecia areata for AQST-108 or other possible indications'
- Mention of 'approval for U.S. market access of Libervant and overcoming the orphan drug market exclusivity of an FDA approved nasal spray product extending to January 2027'
- Reference to manufacturing 'Emylif®, Sympazan®, Ondif®' in addition to Suboxone®
- Mention of 'RTW Funding Agreement' as a source of debt and equity financing
- Expanded risk language regarding 'the concerns raised by the FDA in the CRL and Type A Meeting'
- Risk regarding 'FDA inspections of manufacturing and clinical study sites'
- Risk regarding 'government shutdowns or actions to reduce government workforces' (versus 'government shutdown' in older)
- Removed:
- Reference to '2025 financial outlook and estimated cash runway' removed (older filing mentioned '2025 financial outlook')
- Removed specific reference to 'commence principal payments on our 13.5% Notes in 2026'
- Removed reference to 'the risk of our obligations under the Purchase Agreement and the Royalty Rights Agreement impacting our ability to refinance our 13.5% Notes'
- Removed language stating 'whether the clinical data submitted to the FDA will be adequate enough for the FDA to approve Anaphylm'
- Removed generic risk language: 'risk that the FDA may require additional clinical studies for approval of Anaphylm'
- Removed 'Libervant' from some instances of risk statements about sales and marketing capability development
- Reworded:
- Changed 'whether the clinical data submitted to the FDA will be adequate enough' to specific reference of CRL dated January 30, 2026 and Type A meeting March 26, 2026
- Changed 'Adrenaverse™' to 'AdrenaVerse™' (capitalization and branding change)
- Changed 'Topical Gel' to 'topical gel' (capitalization change for AQST-108)
- Changed 'Sublingual Film' to 'sublingual film' (capitalization change for Anaphylm)
- Expanded 'risk of government shutdown' to 'risk of government shutdowns or actions to reduce government workforces'
- Expanded risk language from 'risks associated with our ability to address the FDA's comments on our NDA' to include 'identified deficiencies'
- Changed reference from 'the filing of the respective NDAs' to include explicit product candidates
- Expanded PK/PD reference to 'generation of sufficient clinical and other human factor data, including with respect to our submission of pharmacokinetics and pharmacodynamics (PK/PD) comparability data'
- Changed reference to Libervant from 'approval for U.S. market access' context (new emphasis on orphan drug exclusivity obstacle)
- Notes:
- Older filing text appears truncated at end; comparison based on available content
- Newer filing accession references Q1 2026 (quarter ended March 31, 2026); older filing references Q3 2025 (quarter ended September 30, 2025)
- Some changes reflect updates to forward-looking statements based on FDA interactions that occurred between filing dates
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 5 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 1 sell ($107168) — 1 selling insider
- Last 90 days0 buys · 5 sells ($436762) — 2 selling insiders
- Last 180 days0 buys · 6 sells ($472175) — 2 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-17. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about AQST's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
4 institutional 13F filers reported holding AQST as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 4
- Reported shares held 11,080,261
- Reported value $45,983,081
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 2 increased, 2 decreased, 1 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
AQST had 18,048,004 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
AQST had 14.4% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 8.92 days to cover at the same settlement.
- Reported short interest (shares) 18,048,004
- Short interest (% of shares outstanding) 14.4%
- Prior settlement (shares) 16,674,440
- Reported change 8.24%
- Days to cover (reported) 8.92
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Indivior Inc. (formerly Reckitt Benckiser) – Suboxone commercialization partner
- Zevra Therapeutics (formerly KemPharm) – CNS and specialty pharma
- Neurelis Inc. – seizure disorder treatments
- Assertio Holdings (Otter Pharmaceuticals) – specialty pharmaceutical licensee
- Cosette Pharmaceuticals – CNS and specialty pharmaceuticals
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does AQUESTIVE THERAPEUTICS INC (AQST) do?
Aquestive Therapeutics is a specialty pharmaceutical company focused on developing and commercializing proprietary drug formulations using its sublingual and buccal film technologies. The company manufactures and distributes both FDA-approved licensed products (including Suboxone, Emylif, Ondif, and Sympazan) and its pipeline candidates targeting conditions including acute repetitive seizures, ADHD, and ALS.
What sector is AQUESTIVE THERAPEUTICS INC (AQST) in?
AQUESTIVE THERAPEUTICS INC (AQST) is classified in the Health Care sector. Its industry is Specialty pharmaceutical film formulations and oral solid delivery. It trades on NASDAQ.
Who are AQUESTIVE THERAPEUTICS INC's (AQST) competitors?
Notable peers of AQUESTIVE THERAPEUTICS INC (AQST) include Indivior Inc. (formerly Reckitt Benckiser) – Suboxone commercialization partner, Zevra Therapeutics (formerly KemPharm) – CNS and specialty pharma, Neurelis Inc. – seizure disorder treatments, Assertio Holdings (Otter Pharmaceuticals) – specialty pharmaceutical licensee and Cosette Pharmaceuticals – CNS and specialty pharmaceuticals. This peer set is informational only — not financial advice.
Is AQUESTIVE THERAPEUTICS INC (AQST) overbought or oversold right now?
AQUESTIVE THERAPEUTICS INC (AQST) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 67, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on AQST come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.