Liquidia’s (LQDA) Buy Rating Reaffirmed at Needham & Company LLC

Liquidia (NASDAQ:LQDA)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $25.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 46.89% from the stock’s current price.

Several other research firms have also recently issued reports on LQDA. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of Liquidia in a research report on Monday, May 12th. Oppenheimer downgraded Liquidia from a “market perform” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Monday. Raymond James increased their price objective on Liquidia from $27.00 to $29.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 9th. Finally, Scotiabank restated an “outperform” rating on shares of Liquidia in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.56.

Liquidia Stock Performance

Shares of LQDA opened at $17.02 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of -10.44 and a beta of 0.24. Liquidia has a 1 year low of $8.26 and a 1 year high of $19.41. The company’s fifty day moving average is $14.67 and its two-hundred day moving average is $13.48.

Liquidia (NASDAQ:LQDA) last issued its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The firm had revenue of $3.12 million during the quarter, compared to analysts’ expectations of $3.23 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. Sell-side analysts predict that Liquidia will post -1.51 EPS for the current year.

Insider Activity

In related news, insider Jason Adair sold 1,856 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $25,185.92. Following the completion of the transaction, the insider now owns 184,304 shares of the company’s stock, valued at approximately $2,501,005.28. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell Schundler sold 5,964 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $80,931.48. Following the completion of the transaction, the general counsel now owns 570,301 shares in the company, valued at approximately $7,738,984.57. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,138 shares of company stock worth $450,233 over the last ninety days. 26.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liquidia

A number of institutional investors have recently modified their holdings of the company. Hurley Capital LLC acquired a new stake in Liquidia during the first quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in shares of 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 period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Liquidia during the fourth quarter worth $59,000. Summit Investment Advisors Inc. boosted its holdings in shares of Liquidia by 35.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock worth $78,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Liquidia in the first quarter valued at $79,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

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).