Liquidia (NASDAQ:LQDA) Price Target Raised to $59.00 at BTIG Research

Liquidia (NASDAQ:LQDAGet Free Report) had its price target increased by BTIG Research from $50.00 to $59.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 13.51% from the stock’s current price.

A number of other research firms have also commented on LQDA. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Liquidia in a research note on Thursday, March 5th. Wall Street Zen raised shares of Liquidia from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Needham & Company LLC increased their price target on shares of Liquidia from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liquidia in a research report on Tuesday, April 21st. Finally, Oppenheimer increased their price target on shares of Liquidia from $16.00 to $19.00 and gave the stock an “underperform” rating in a research report on Thursday, March 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Liquidia has an average rating of “Moderate Buy” and a consensus price target of $44.44.

Read Our Latest Stock Analysis on LQDA

Liquidia Trading Up 22.9%

LQDA stock traded up $9.68 during mid-day trading on Monday, reaching $51.98. 3,843,805 shares of the stock traded hands, compared to its average volume of 1,644,625. The company has a current ratio of 2.01, a quick ratio of 1.84 and a debt-to-equity ratio of 2.97. Liquidia has a 52-week low of $11.85 and a 52-week high of $51.39. The company has a market cap of $4.62 billion, a P/E ratio of -62.33 and a beta of 0.41. The stock’s fifty day moving average is $36.96 and its 200-day moving average is $34.71.

Liquidia (NASDAQ:LQDAGet Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. Liquidia had a negative net margin of 43.53% and a negative return on equity of 209.33%. The company had revenue of $132.87 million during the quarter, compared to analyst estimates of $119.44 million. The firm’s quarterly revenue was up 4187.1% compared to the same quarter last year. As a group, sell-side analysts expect that Liquidia will post 1.75 earnings per share for the current year.

Insider Activity at Liquidia

In other news, insider Jason Adair sold 688 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $41.65, for a total value of $28,655.20. Following the completion of the sale, the insider directly owned 214,738 shares of the company’s stock, valued at $8,943,837.70. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Dana Boyle sold 1,576 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $37.78, for a total transaction of $59,541.28. Following the completion of the sale, the chief accounting officer directly owned 175,342 shares of the company’s stock, valued at $6,624,420.76. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 628,820 shares of company stock valued at $24,801,008 over the last ninety days. 25.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liquidia

A number of hedge funds have recently added to or reduced their stakes in the company. Farallon Capital Management LLC increased its holdings in Liquidia by 1.1% in the fourth quarter. Farallon Capital Management LLC now owns 8,656,038 shares of the company’s stock worth $298,547,000 after buying an additional 90,400 shares during the last quarter. Vanguard Group Inc. increased its holdings in Liquidia by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,013,888 shares of the company’s stock worth $138,439,000 after buying an additional 52,671 shares during the last quarter. Opaleye Management Inc. increased its holdings in Liquidia by 9.5% in the second quarter. Opaleye Management Inc. now owns 2,475,000 shares of the company’s stock worth $30,838,000 after buying an additional 215,000 shares during the last quarter. Caprock Group LLC increased its holdings in Liquidia by 9.3% in the fourth quarter. Caprock Group LLC now owns 1,783,921 shares of the company’s stock worth $61,527,000 after buying an additional 151,832 shares during the last quarter. Finally, TCG Crossover Management LLC acquired a new position in Liquidia in the third quarter worth approximately $38,887,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

Key Stories Impacting Liquidia

Here are the key news stories impacting Liquidia this week:

Liquidia Company Profile

(Get Free Report)

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company’s lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).

Further Reading

Analyst Recommendations for Liquidia (NASDAQ:LQDA)

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