Aquestive Therapeutics price target raised to $15 from $13 at Oppenheimer

Oppenheimer analyst Francois Brisebois raised the firm’s price target on Aquestive Therapeutics (AQST) to $15 from $13 and keeps an Outperform rating on the shares after the FDA announced approval of Neffy, an epinephrine nasal spray from competitor ARS Pharmaceuticals (SPRY), for the emergency treatment of allergic reactions. Given the prior uncertainties regarding approvability of needle-free epinephrine products, the firm is “pleased by this key development,” which it argues derisks the regulatory path forward for Aquestive’s oral epinephrine product, Anaphylm.