Cantor Cuts Aquestive Price Target 47% to $8, Triggering 37% Share Plunge
On Jan 9, Cantor cut its price target on Aquestive Therapeutics from $15 to $8, citing increased risk of a Complete Response Letter for its Anaphylm NDA, triggering a 37% drop. Shares plunged from $6.21 to $3.91 after the FDA flagged labeling deficiencies that halted approval discussions.
1. Analyst Price Target Slashed
On January 9, Cantor reduced its price target on Aquestive Therapeutics by 47%, from $15 to $8, citing heightened risk of a Complete Response Letter for its Anaphylm NDA, while Oppenheimer warned the setback could push shares below cash levels in a worst-case scenario.
2. Sharp Share Price Decline
AQST shares plunged 37% in a single session, tumbling from $6.21 to $3.91, after the company disclosed that the FDA had identified deficiencies that precluded any labeling discussions for Anaphylm.
3. FDA Flags Labeling Deficiencies
The FDA notified Aquestive that its Anaphylm NDA contained deficiencies significant enough to halt labeling negotiations, derailing expectations for a January 31 PDUFA-date approval and postponing planned Q1 2026 commercial launch preparations.
4. Class Action Lawsuit Filed
Investors who purchased AQST securities between June 16, 2025 and January 8, 2026 have filed a class action alleging misleading management disclosures, with a lead plaintiff deadline set for May 4, 2026 to recover investment losses.