AQST Surges 7.98% as Price Targets Rise 14.8%, Institutional Ownership Jumps 33.8%

Aquestive Therapeutics (AQST) surged 7.98% in pre-market trading on November 18, 2025, signaling renewed investor confidence amid evolving market dynamics.

The stock’s one-year average price target was revised to $10.51 per share, a 14.8% increase from the prior estimate of $9.15. This marks a 94.9% premium over its most recent closing price of $5.39, reflecting heightened analyst optimism. Institutional ownership has grown substantially, with 251 funds or institutions now reporting stakes in AQST—a 14.6% rise in the last quarter. Total institutional shares increased by 33.8% to 70.7 million, while the average portfolio weight dedicated to AQST rose 41.1%. A put/call ratio of 0.26 further underscores bullish sentiment among options traders.

Key institutional investors have also adjusted their holdings. Perceptive Advisors nearly doubled its AQST stake to 3.8 million shares, a 41.8% increase in holdings and a 110.8% rise in portfolio allocation. Other major holders include Bratton Capital Management (8.04% ownership) and Rtw Investments (5.12%), though their positions remained unchanged quarter-over-quarter. These shifts highlight growing institutional conviction in AQST’s strategic positioning.

The rally aligns with broader technical and fundamental catalysts. Analysts’ elevated price targets, coupled with increased institutional participation, suggest a potential inflection point for AQST. However, the stock’s volatility remains tied to execution risks and sector-specific challenges in the pharmaceutical space.

Backtest assumptions indicate that a quantitative strategy leveraging AQST’s recent momentum and institutional buying trends could yield favorable risk-adjusted returns. Historical data suggests that sustained price targets above $10.51, combined with a put/call ratio below 0.5, often precede extended upward moves in biotech equities with similar capital structures. Position sizing and stop-loss parameters would need to account for AQST’s historical beta and liquidity profile.