Liquidia (NASDAQ:LQDA – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($2.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($3.60), FiscalAI reports. Liquidia had a net margin of 30.74% and a return on equity of 149.65%. The company had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $214.18 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The firm’s revenue was up 314.9% compared to the same quarter last year.
Here are the key takeaways from Liquidia’s conference call:
- YUTREPIA continued its strong launch growth: third-quarter net product sales rose 31% sequentially to $222.7 million, and adjusted EBITDA reached $140.5 million, its fifth consecutive quarterly increase. The company said more than 70% of September prescriptions included a PAH diagnosis and October shipments were the highest since launch.
- The settlement ended the litigation overhang and, according to Liquidia, requires no switch for existing PH-ILD patients; the company reported no changes to payer formularies or coverage. Liquidia said it has no ongoing royalty or payment obligations to United Therapeutics after its final settlement payment in April 2027.
- Management said litigation-related uncertainty briefly slowed referrals at some centers: October’s daily referral rate was more than 75% of Q3’s rate. Liquidia expects referrals to recover but said it wants more data before providing 2027 revenue guidance, which it expects to address in early January.
- Liquidia reported a substantial cash balance and said it can fund its plans without raising capital: cash and equivalents were $396.1 million at quarter-end before settlement payments. The GAAP net loss of $236.3 million included a one-time $389.7 million settlement charge, with $380.7 million payable in cash through April 2027.
- The company outlined a broad development agenda, including a PH-ILD pivotal study for L606 expected to complete enrollment in 2028, with data intended to support an NDA submission in 2029; a PAH pivotal study is planned for 2027. It also expects to complete its YUTREPIA Raynaud’s dose-finding study in the first half of 2027 and plans a PH-COPD pivotal study in the second half of 2027.
Liquidia Stock Up 0.1%
LQDA traded up $0.07 during trading on Tuesday, hitting $47.94. 1,026,135 shares of the company’s stock were exchanged, compared to its average volume of 2,283,423. The business’s 50 day moving average is $49.99 and its two-hundred day moving average is $54.47. Liquidia has a fifty-two week low of $22.31 and a fifty-two week high of $93.61. The stock has a market cap of $4.29 billion, a P/E ratio of 34.83, a PEG ratio of 0.41 and a beta of 0.40. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.63.
Analysts Set New Price Targets
LQDA has been the topic of a number of recent research reports. HC Wainwright raised their price target on shares of Liquidia from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of Liquidia from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Jefferies Financial Group upgraded shares of Liquidia to a “strong-buy” rating in a report on Thursday, October 1st. Weiss Ratings raised Liquidia from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Lifesci Capital raised shares of Liquidia from a “hold” rating to an “outperform” rating and set a $59.00 price objective for the company in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.85.
Check Out Our Latest Stock Analysis on Liquidia
Insider Transactions at Liquidia
In other Liquidia news, insider Jason Adair sold 73,631 shares of Liquidia stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $69.09, for a total value of $5,087,165.79. Following the sale, the insider owned 174,606 shares of the company’s stock, valued at approximately $12,063,528.54. The trade was a 29.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Roger Jeffs sold 32,744 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 value of $932,549.12. Following the completion of the transaction, the chief executive officer directly owned 1,125,848 shares of the company’s stock, valued at $32,064,151.04. The trade was a 2.83% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 566,579 shares of company stock worth $25,746,120. Company insiders own 25.60% of the company’s stock.
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.
Liquidia was founded in 2004 and uses its PRINT particle-engineering technology in drug development.
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