Liquidia Corporation (NASDAQ:LQDA – Get Free Report)’s share price shot up 7.2% on Wednesday . The company traded as high as $80.69 and last traded at $86.7060. 223,803 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,797,070 shares. The stock had previously closed at $80.89.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on LQDA shares. Jefferies Financial Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Liquidia in a report on Monday, May 11th. Oppenheimer set a $75.00 target price on shares of Liquidia in a research note on Friday, June 5th. Bank of America reissued a “neutral” rating and issued a $79.00 target price (up from $64.00) on shares of Liquidia in a report on Monday, June 29th. Zacks Research raised shares of Liquidia from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC lifted their price target on shares of Liquidia from $54.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Liquidia currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.88.
Read Our Latest Report on LQDA
Liquidia Stock Up 5.4%
Liquidia (NASDAQ:LQDA – Get Free Report) last announced its quarterly 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. The business had revenue of $132.87 million for the quarter, compared to the consensus estimate of $119.44 million. Liquidia had a return on equity of 46.82% and a net margin of 7.74%.Liquidia’s quarterly revenue was up 4187.1% compared to the same quarter last year. As a group, research analysts expect that Liquidia Corporation will post 3.02 earnings per share for the current year.
Insider Buying and Selling at Liquidia
In other news, insider Sanjeev Khindri sold 1,185 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $71.51, for a total value of $84,739.35. Following the completion of the transaction, the insider owned 65,947 shares of the company’s stock, valued at $4,715,869.97. The trade was a 1.77% decrease in their position. The sale was disclosed in a filing 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 Sarah Krepp sold 7,864 shares of Liquidia stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $71.51, for a total value of $562,354.64. Following the completion of the transaction, the insider owned 117,178 shares of the company’s stock, valued at approximately $8,379,398.78. This represents a 6.29% decrease in their position. 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. In the last 90 days, insiders sold 2,022,134 shares of company stock worth $129,579,224. Corporate insiders own 25.60% of the company’s stock.
Institutional Trading of Liquidia
Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Liquidia by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,681 shares of the company’s stock valued at $556,000 after acquiring an additional 1,700 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Liquidia by 10.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 861,231 shares of the company’s stock valued at $12,703,000 after purchasing an additional 82,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Liquidia by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,756 shares of the company’s stock worth $1,796,000 after acquiring an additional 16,022 shares in the last quarter. Creative Planning increased its holdings in Liquidia by 40.7% in the second quarter. Creative Planning now owns 26,840 shares of the company’s stock valued at $334,000 after buying an additional 7,765 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Liquidia by 13.4% during the 2nd quarter. Legal & General Group Plc now owns 94,152 shares of the company’s stock worth $1,174,000 after acquiring an additional 11,111 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.
Liquidia Company Profile
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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