Citizens reiterated its Market Outperform rating for Aquestive Therapeutics. The analyst maintained a $10 price target for the stock.
Citizens expressed confidence in the development of Anaphylm, the company's lead drug candidate. Aquestive confirmed its New Drug Application (NDA) resubmission to the FDA remains on track for the third quarter of 2026.
The company is currently awaiting FDA feedback on a required human factors study protocol. Management expects to complete that study by August.
This update follows first-quarter 2026 financial results that exceeded earnings expectations. The company also provided a recent update regarding its debt facility.