Liquidia (NASDAQ:LQDA) Hits New 12-Month High – Here’s What Happened

Liquidia Corporation (NASDAQ:LQDA) shares reached a new 52-week high on Wednesday . The stock traded as high as $33.27 and last traded at $33.42, with a volume of 484614 shares traded. The stock had previously closed at $30.79.

Analyst Ratings Changes

Several equities research analysts have commented on LQDA shares. HC Wainwright boosted their price objective on Liquidia from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company initiated coverage on shares of Liquidia in a report on Monday, October 20th. They issued an “overweight” rating and a $31.00 price objective for the company. BTIG Research restated a “buy” rating and set a $49.00 target price on shares of Liquidia in a report on Tuesday, November 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $47.00 price objective on shares of Liquidia in a research report on Tuesday, November 4th. Finally, Needham & Company LLC upped their target price on Liquidia from $36.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Liquidia presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.56.

Liquidia Stock Performance

The firm’s fifty day moving average is $25.57 and its 200-day moving average is $21.56. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $2.90 billion, a PE ratio of -23.28 and a beta of 0.48.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.41. The business had revenue of $54.34 million for the quarter, compared to the consensus estimate of $18.86 million. Liquidia had a negative net margin of 176.04% and a negative return on equity of 296.78%. Liquidia’s revenue for the quarter was up 1106.7% compared to the same quarter last year. As a group, research analysts anticipate that Liquidia Corporation will post -1.51 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Kaseta sold 11,630 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $23.41, for a total transaction of $272,258.30. Following the completion of the sale, the chief financial officer owned 352,646 shares in the company, valued at approximately $8,255,442.86. The trade was a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raman Singh sold 45,524 shares of Liquidia stock in a transaction on Monday, September 15th. The stock was sold at an average price of $25.81, for a total transaction of $1,174,974.44. Following the sale, the director owned 31,255 shares in the company, valued at $806,691.55. This represents a 59.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 215,168 shares of company stock worth $5,675,425 over the last three months. 30.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Liquidia

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in Liquidia during the 2nd quarter worth $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Liquidia in the third quarter valued at about $30,000. Steward Partners Investment Advisory LLC boosted its holdings in Liquidia by 24.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company’s stock valued at $77,000 after purchasing an additional 1,200 shares in the last quarter. Quarry LP purchased a new stake in shares of Liquidia in the first quarter valued at approximately $79,000. Finally, Tower Research Capital LLC TRC increased its stake in Liquidia by 281.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,679 shares of the company’s stock valued at $83,000 after purchasing an additional 4,927 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

About Liquidia

Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for unmet patient needs in the United States. Its lead product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).