Fly News Breaks for February 10, 2020
Feb 10, 2020 | 13:32 EDT
Wedbush analyst Liana Moussatos raised her price target for Aquestive Therapeutics to $36 from $35, while keeping an Outperform rating on the shares. The analyst notes that Aquestive Therapeutics announced the FDA has accepted the NDA for Libervant for the treatment of acute refractory/repetitive seizures and that the Prescription Drug User Fee Act date of September 27, 2020 has been set. The analyst delayed her U.S. launch estimates for Libervant from 10/1/2020 to 10/31/2020 to allow time for commercial preparations. The impact of this delay on her price target for the shares was offset by an increase in her multiple to 8-times from 7-times for reduced regulatory risk with the FDA acceptance of the NDA for review.
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