Is ANIK or AQST more undervalued in 2026?

CirclFi compares Anika Therapeutics Inc. (ANIK) and Aquestive Therapeutics, Inc. (AQST) using 13 institutional-grade valuation models. ANIK has a Quality of Company score of 6.4/10 while AQST scores 5.7/10.

Which is a better buy — ANIK or AQST?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ANIK and AQST valuations compare?

ANIK at $14.90 and AQST at $4.02 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ANIK vs AQST Valuation Comparison 2026 — Intrinsic Value Analysis

ANIK

Drug Manufacturers - Specialty & Generic

Anika Therapeutics Inc.

Quality

6.4

out of 10

Value Trap

SAFE

Price

$14.90

Last close

Models

12/13

Active

AQST

Drug Manufacturers - Specialty & Generic

Aquestive Therapeutics, Inc.

Quality

5.7

out of 10

Value Trap

LOW

Price

$4.02

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	ANIK Fair Value	ANIK Upside	AQST Fair Value	AQST Upside
Bayesian DCF	Intrinsic	$3.53	-76.3%	$1.37	-66.0%
Earnings Power Value	Intrinsic	$6.10	-59.0%	$1.22	-70.9%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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ANIK vs AQST — Which Stock Is More Undervalued?

ANIK scores higher with a 6.4/10 quality rating vs AQST's 5.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Anika Therapeutics Inc. (ANIK) and Aquestive Therapeutics, Inc. (AQST) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ANIK currently trades at $14.90 with a QOC of 6.4/10, while AQST trades at $4.02 with a QOC of 5.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).