Liquidia Technologies (NASDAQ:LQDA) Hits New 52-Week High on Analyst Upgrade

Liquidia Technologies, Inc. (NASDAQ:LQDA) shares reached a new 52-week high during trading on Tuesday after Raymond James Financial raised their price target on the stock from $33.00 to $41.00. Raymond James Financial currently has a strong-buy rating on the stock. Liquidia Technologies traded as high as $21.27 and last traded at $21.20, with a volume of 3450160 shares trading hands. The stock had previously closed at $20.45.

LQDA has been the topic of a number of other research reports. Bank of America reduced their target price on Liquidia Technologies from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Oppenheimer set a $13.00 price target on shares of Liquidia Technologies and gave the company an “underperform” rating in a research report on Monday, May 19th. Needham & Company LLC upped their price target on shares of Liquidia Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday. HC Wainwright upped their price target on shares of Liquidia Technologies from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, Scotiabank upped their price target on shares of Liquidia Technologies from $36.00 to $37.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.11.

Insider Activity at Liquidia Technologies

In related news, insider Rajeev Saggar sold 2,526 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $14.54, for a total value of $36,728.04. Following the completion of the transaction, the insider directly owned 268,887 shares of the company’s stock, valued at $3,909,616.98. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sarah Krepp sold 2,673 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $14.28, for a total transaction of $38,170.44. Following the completion of the transaction, the insider directly owned 142,499 shares of the company’s stock, valued at approximately $2,034,885.72. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,277 shares of company stock valued at $1,469,392 in the last quarter. 26.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Liquidia Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Hurley Capital LLC bought a new position in shares of Liquidia Technologies during the first quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in shares of Liquidia Technologies by 65.6% during the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company’s stock valued at $44,000 after purchasing an additional 1,173 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Liquidia Technologies by 24.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company’s stock valued at $77,000 after purchasing an additional 1,200 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Liquidia Technologies by 35.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock valued at $78,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Liquidia Technologies during the first quarter valued at approximately $79,000. Institutional investors own 64.54% of the company’s stock.

Liquidia Technologies Stock Up 4.6%

The stock’s 50 day simple moving average is $15.98 and its two-hundred day simple moving average is $15.36. The firm has a market cap of $2.15 billion, a P/E ratio of -14.82 and a beta of 0.14. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.93 and a quick ratio of 2.91.

Liquidia Technologies (NASDAQ:LQDA) last announced its earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.06). The business had revenue of $8.84 million for the quarter, compared to the consensus estimate of $3.90 million. Liquidia Technologies had a negative net margin of 732.17% and a negative return on equity of 185.89%. The firm’s revenue for the quarter was up 141.5% compared to the same quarter last year. As a group, research analysts forecast that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current year.

Liquidia Technologies 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).