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Fly News Breaks for November 21, 2018
RDY, AQST
Nov 21, 2018 | 11:44 EDT
RBC Capital analyst Randall Stanicky attributes the added pressure on Aquestive Therapeutics (AQST) shares to yesterday's decision to lift the preliminary injunction on Dr. Reddy's (RDY) launching a generic version of Suboxone. He notes this will impact the milestones that Aquestive receives from Indivior, with the remaining milestones now unlikely. However, he notes that Suboxone in total comprises about $3 per share in value in his model, which is meaningfully less than the two-day selloff of $7 in the stock, which makes the pullback "meaningfully overdone" in his view. Stanicky has an Outperform rating on Aquestive shares with a $24 price target.
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