Liquidia (NASDAQ:LQDA) Price Target Raised to $52.00

Liquidia (NASDAQ:LQDA) had its price objective boosted by Needham & Company LLC from $36.00 to $52.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 106.19% from the stock’s current price.

A number of other equities research analysts also recently issued reports on LQDA. Wells Fargo & Company began coverage on shares of Liquidia in a research note on Monday, October 20th. They set an “overweight” rating and a $31.00 price objective on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $47.00 price target on shares of Liquidia in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and issued a $45.00 price target on shares of Liquidia in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Liquidia in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Liquidia in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Liquidia Trading Up 3.5%

Shares of Liquidia stock opened at $25.22 on Tuesday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -14.84 and a beta of 0.12. The company has a quick ratio of 2.41, a current ratio of 2.49 and a debt-to-equity ratio of 9.84. Liquidia has a 12-month low of $9.71 and a 12-month high of $29.94. The firm’s 50-day moving average price is $24.59 and its two-hundred day moving average price is $19.52.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.41. The firm 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 732.17% and a negative return on equity of 232.96%. The firm’s revenue was up 1106.7% compared to the same quarter last year. On average, analysts forecast that Liquidia will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Liquidia

In related news, General Counsel Russell Schundler sold 7,839 shares of Liquidia 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 $183,510.99. Following the sale, the general counsel directly owned 576,017 shares in the company, valued at $13,484,557.97. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Kaseta sold 11,630 shares of Liquidia stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $23.41, for a total transaction of $272,258.30. Following the sale, the chief financial officer owned 352,646 shares in the company, valued at approximately $8,255,442.86. This represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 849,141 shares of company stock worth $23,584,920 over the last quarter. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Liquidia

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in Liquidia during the 2nd quarter worth approximately $25,000. Hurley Capital LLC bought a new position in Liquidia during the 1st quarter worth approximately $32,000. GAMMA Investing LLC raised its holdings in Liquidia by 65.6% during the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company’s stock worth $44,000 after purchasing an additional 1,173 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Liquidia by 24.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company’s stock worth $77,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Quarry LP bought a new position in Liquidia during the 1st quarter worth approximately $79,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

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).