Liquidia Corporation (NASDAQ:LQDA – Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $60.22 and last traded at $59.8530, with a volume of 775626 shares traded. The stock had previously closed at $56.97.
Analysts Set New Price Targets
A number of research firms have recently commented on LQDA. Oppenheimer boosted their price objective on Liquidia from $16.00 to $19.00 and gave the stock an “underperform” rating in a research note on Thursday, March 12th. Lifesci Capital upgraded shares of Liquidia to a “strong-buy” rating in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Liquidia in a report on Tuesday, April 21st. Zacks Research raised Liquidia from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company upped their price target on Liquidia from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.
Read Our Latest Stock Report on Liquidia
Liquidia Price Performance
Liquidia (NASDAQ:LQDA – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The business had revenue of $132.87 million for the quarter, compared to analyst estimates of $119.44 million. Liquidia’s revenue was up 4187.1% compared to the same quarter last year. On average, analysts expect that Liquidia Corporation will post 2.97 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Michael Kaseta sold 139,390 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.14, for a total value of $5,595,114.60. Following the sale, the chief financial officer owned 353,356 shares in the company, valued at approximately $14,183,709.84. This trade represents a 28.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen M. Bloch sold 318,893 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the completion of the sale, the director owned 1,870,042 shares in the company, valued at approximately $93,932,209.66. The trade was a 14.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,022,713 shares of company stock valued at $44,689,753. Insiders own 25.60% of the company’s stock.
Hedge Funds Weigh In On Liquidia
Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new position in Liquidia in the third quarter valued at about $7,290,000. Caprock Group LLC acquired a new position in Liquidia in the third quarter valued at about $37,114,000. Apis Capital Advisors LLC acquired a new position in Liquidia in the third quarter valued at about $9,569,000. Farallon Capital Management LLC boosted its position in Liquidia by 102.1% in the third quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company’s stock valued at $194,783,000 after buying an additional 4,326,876 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in Liquidia during the 3rd quarter valued at $1,536,000. Institutional investors and hedge funds own 64.54% of the company’s stock.
About Liquidia
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).
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