Needham & Company LLC Issues Positive Forecast for Liquidia (NASDAQ:LQDA) Stock Price

Liquidia (NASDAQ:LQDA) had its price target lifted by Needham & Company LLC from $58.00 to $66.00 in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts also recently commented on LQDA. BTIG Research upped their price objective on Liquidia from $70.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Research lowered Liquidia from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 22nd. Wells Fargo & Company lifted their target price on Liquidia from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Liquidia from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, HC Wainwright upped their price target on shares of Liquidia from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Liquidia has an average rating of “Hold” and an average price target of $74.38.

Liquidia Stock Performance

Shares of NASDAQ:LQDA opened at $55.21 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. Liquidia has a 12 month low of $22.31 and a 12 month high of $93.61. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 0.45 and a beta of 0.40. The firm’s 50-day moving average is $49.42 and its 200 day moving average is $54.60.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($2.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($3.60). Liquidia had a positive return on equity of 184.00% and a negative net margin of 15.15%. The firm had revenue of $225.30 million during the quarter, compared to the consensus estimate of $214.18 million. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 314.9% on a year-over-year basis. Research analysts predict that Liquidia will post 2.05 EPS for the current year.

Insider Transactions at Liquidia

In other Liquidia news, insider Rajeev Saggar sold 9,218 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $28.48, for a total transaction of $262,528.64. Following the transaction, the insider directly owned 126,368 shares in the company, valued at $3,598,960.64. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, insider Jason Adair sold 688 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $43.19, for a total value of $29,714.72. Following the transaction, the insider owned 177,269 shares in the company, valued at $7,656,248.11. The trade was a 0.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 566,579 shares of company stock valued at $25,746,120 in the last ninety days. Corporate insiders own 25.60% of the company’s stock.

Hedge Funds Weigh In On Liquidia

Several institutional investors have recently made changes to their positions in LQDA. Bank of New York Mellon Corp purchased a new position in Liquidia during the 2nd quarter valued at about $29,694,000. Bank of America Corp DE lifted its position in shares of Liquidia by 18.7% in the 1st quarter. Bank of America Corp DE now owns 2,287,792 shares of the company’s stock worth $86,341,000 after purchasing an additional 360,372 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Liquidia by 90.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 458,708 shares of the company’s stock worth $13,881,000 after purchasing an additional 217,332 shares during the period. Eversept Partners LP lifted its position in shares of Liquidia by 33.0% in the 1st quarter. Eversept Partners LP now owns 677,392 shares of the company’s stock worth $25,565,000 after purchasing an additional 167,949 shares during the period. Finally, Seven Fleet Capital Management LP boosted its stake in shares of Liquidia by 124.5% during the first quarter. Seven Fleet Capital Management LP now owns 204,876 shares of the company’s stock valued at $7,732,000 after purchasing an additional 113,609 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

Liquidia News Roundup

Here’s some of the latest news about LQDA:

• Positive Sentiment: Third-quarter revenue reached $225.3 million, up 314.9% year over year and ahead of expectations, with YUTREPIA sales of $222.7 million. The earnings coverage highlights strong product demand; a large charge obscured the reported loss, while adjusted results beat estimates. LQDA Q3 Earnings Beat Estimates on Robust Yutrepia Sales
• Positive Sentiment: Raymond James upgraded LQDA to “strong buy” and raised its price target to $77 from $53. Needham raised its target to $66 and maintained “buy,” while BTIG raised its target to $87 and also maintained “buy.” Raymond James upgrades Liquidia on YUTREPIA launch
• Neutral Sentiment: Commercial growth is encouraging, but the company noted referral disruptions amid market changes, which could affect the pace of adoption. Earnings call outlook

About Liquidia

Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing treatments for pulmonary hypertension and other serious diseases. Its work includes inhaled therapies designed to deliver medicines to the lungs. The company’s marketed product, Yutrepia (treprostinil) inhalation powder, is approved in the United States for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Liquidia also has a pipeline of investigational therapies, including other formulations of treprostinil.