Liquidia (NASDAQ:LQDA) Price Target Raised to $34.00

Liquidia (NASDAQ:LQDA) had its target price lifted by Scotiabank from $30.00 to $34.00 in a research report sent to investors on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other research firms also recently weighed in on LQDA. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of Liquidia in a research note on Thursday. Needham & Company LLC increased their price target on shares of Liquidia from $19.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company began coverage on shares of Liquidia in a research note on Friday, December 20th. They set an “overweight” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Liquidia presently has a consensus rating of “Buy” and an average price target of $26.63.

Liquidia Stock Performance

Shares of NASDAQ LQDA opened at $15.12 on Thursday. Liquidia has a 1 year low of $8.26 and a 1 year high of $16.92. The firm’s 50 day moving average price is $14.79 and its 200 day moving average price is $12.20. The firm has a market cap of $1.28 billion, a P/E ratio of -9.28 and a beta of 0.07.

Liquidia (NASDAQ:LQDA) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. The firm had revenue of $2.92 million for the quarter, compared to analyst estimates of $4.60 million. As a group, equities analysts predict that Liquidia will post -1.51 EPS for the current year.

Insider Activity

In other news, CEO Roger Jeffs sold 22,343 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total value of $263,200.54. Following the transaction, the chief executive officer now owns 1,019,177 shares of the company’s stock, valued at approximately $12,005,905.06. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rajeev Saggar sold 6,249 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total transaction of $73,613.22. Following the completion of the transaction, the insider now directly owns 270,388 shares in the company, valued at approximately $3,185,170.64. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,245 shares of company stock valued at $843,326. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Liquidia

A number of large investors have recently added to or reduced their stakes in LQDA. LM Advisors LLC acquired a new stake in Liquidia during the 4th quarter valued at $25,948,000. Whitefort Capital Management LP grew its holdings in Liquidia by 119.8% during the 3rd quarter. Whitefort Capital Management LP now owns 1,702,025 shares of the company’s stock valued at $17,020,000 after purchasing an additional 927,546 shares in the last quarter. Invesco Ltd. grew its holdings in Liquidia by 2,675.0% during the 4th quarter. Invesco Ltd. now owns 700,171 shares of the company’s stock valued at $8,234,000 after purchasing an additional 674,940 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Liquidia by 1,484.5% during the 4th quarter. Janus Henderson Group PLC now owns 535,552 shares of the company’s stock valued at $6,293,000 after purchasing an additional 501,752 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in Liquidia during the 4th quarter valued at $5,880,000. 64.54% of the stock is owned by institutional investors and hedge funds.

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).