Liquidia (NASDAQ:LQDA) Shares Gap Up to $10.00

Liquidia Co. (NASDAQ:LQDA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $10.00, but opened at $10.35. Liquidia shares last traded at $10.09, with a volume of 71,340 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on LQDA. Oppenheimer assumed coverage on shares of Liquidia in a report on Tuesday, June 25th. They issued a “market perform” rating for the company. Bank of America decreased their price target on Liquidia from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Raymond James upgraded shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 19th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Liquidia in a research report on Monday, August 19th. Finally, BTIG Research reduced their target price on Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Liquidia has an average rating of “Moderate Buy” and an average price target of $23.14.

Liquidia Trading Up 1.3 %

The firm has a fifty day moving average of $10.84 and a two-hundred day moving average of $12.59. The company has a market capitalization of $757.26 million, a PE ratio of -6.35 and a beta of 0.22.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $3.66 million for the quarter, compared to analysts’ expectations of $7.92 million. Liquidia had a negative net margin of 755.46% and a negative return on equity of 183.57%. On average, equities analysts expect that Liquidia Co. will post -1.69 EPS for the current fiscal year.

Insider Activity at Liquidia

In other news, CFO Michael Kaseta sold 3,906 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $12.53, for a total value of $48,942.18. Following the transaction, the chief financial officer now owns 312,389 shares in the company, valued at $3,914,234.17. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Michael Kaseta sold 3,906 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $48,942.18. Following the transaction, the chief financial officer now owns 312,389 shares in the company, valued at $3,914,234.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Caligan Partners Lp purchased 150,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $9.51 per share, for a total transaction of $1,426,500.00. Following the completion of the purchase, the director now owns 6,994,997 shares in the company, valued at $66,522,421.47. The disclosure for this purchase can be found here. Insiders sold a total of 21,422 shares of company stock valued at $256,998 in the last three months. Company insiders own 31.60% of the company’s stock.

Hedge Funds Weigh In On Liquidia

A number of institutional investors have recently bought and sold shares of the stock. Patient Square Capital LP purchased a new position in shares of Liquidia during the 1st quarter valued at $105,942,000. Farallon Capital Management LLC bought a new stake in Liquidia in the 1st quarter valued at $30,311,000. Vestal Point Capital LP purchased a new stake in Liquidia in the 4th quarter worth $12,331,000. Kynam Capital Management LP increased its holdings in shares of Liquidia by 34.9% in the fourth quarter. Kynam Capital Management LP now owns 2,698,324 shares of the company’s stock worth $32,461,000 after purchasing an additional 698,324 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Liquidia by 119.4% in the first quarter. BNP Paribas Financial Markets now owns 230,248 shares of the company’s stock worth $3,396,000 after buying an additional 125,315 shares in the last quarter. 64.54% of the stock is owned by institutional investors.

Liquidia Company Profile

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).