Aquestive Therapeutics Inc. (NASDAQ:AQST) is one of the 7 best small-cap drug manufacturing stocks to buy according to hedge funds.

On March 5, Alliance Global reduced the firm’s price target on Aquestive Therapeutics Inc. (NASDAQ:AQST) from $12 to $9. The firm maintained its Buy rating on the shares. The move follows the company’s fourth quarter earnings call, with the firm highlighting the planned NDA resubmission for Anaphylm in quarter 3 2026 after receiving a Complete Response Letter from the FDA.

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Alliance Global also outlined a detailed valuation across the company’s pipeline and assets, including contributions from Anaphylm, Libervant, and its base business, supporting its updated view on the shares.

On March 5, Aquestive Therapeutics Inc. (NASDAQ:AQST) announced its revenue for the fourth quarter of $13.02 million, which was lower than the consensus estimates of $13.28 million. According to President and CEO Daniel Barber, Aquestive is well-positioned to advance Anaphylm, the first and only oral epinephrine rescue medication, toward FDA approval for patients worldwide in 2026.

The company is focused on rapidly addressing the human-focused deficiencies identified by the FDA in its recent Complete Response Letter. The commercial infrastructure is intact and transferable to the new timeline as the allergy market continues to grow, and the patient preference for the innovation that Anaphylm brings to the allergy community remains strong.

Aquestive Therapeutics Inc. (NASDAQ:AQST) works as a pharmaceutical company both in the US and around the world. It offers a wide range of products, which include Libervant, Suboxone, EMYLIF, ONDIF, SYMPAZAN, KYNMOBI, and AZSTARYS. Anaphylm and AQST-108 are its proprietary pipeline items. Additionally, it has also created Adrenaverse and PharmFilm technology.

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