Analysts Set Liquidia Co. (NASDAQ:LQDA) Target Price at $23.14

Shares of Liquidia Co. (NASDAQ:LQDA) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.00.

LQDA has been the subject of a number of research reports. BTIG Research decreased their price objective on shares of Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a report on Monday, August 19th. Oppenheimer began coverage on shares of Liquidia in a report on Tuesday, June 25th. They issued a “market perform” rating for the company. Bank of America dropped their price objective on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. HC Wainwright decreased their target price on Liquidia from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Finally, Lifesci Capital assumed coverage on Liquidia in a report on Thursday. They set an “outperform” rating and a $30.00 target price for the company.

Liquidia Price Performance

Shares of LQDA stock opened at $10.03 on Thursday. The firm has a fifty day moving average of $10.44 and a two-hundred day moving average of $12.22. The firm has a market cap of $766.43 million, a P/E ratio of -6.43 and a beta of 0.22. Liquidia has a 1-year low of $5.71 and a 1-year high of $16.99.

Liquidia (NASDAQ:LQDA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Liquidia had a negative return on equity of 183.57% and a negative net margin of 755.46%. The company had revenue of $3.66 million for the quarter, compared to the consensus estimate of $7.92 million. On average, sell-side analysts expect that Liquidia will post -1.71 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael Kaseta sold 3,906 shares of Liquidia stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $12.53, for a total transaction of $48,942.18. Following the sale, the chief financial officer now owns 312,389 shares of the company’s stock, valued at approximately $3,914,234.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Caligan Partners Lp purchased 150,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of $9.51 per share, with a total value of $1,426,500.00. Following the purchase, the director now owns 6,994,997 shares in the company, valued at $66,522,421.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Kaseta sold 3,906 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $48,942.18. Following the sale, the chief financial officer now directly owns 312,389 shares of the company’s stock, valued at approximately $3,914,234.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,422 shares of company stock worth $256,998. Insiders own 31.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Liquidia during the second quarter valued at $27,000. Hilltop National Bank purchased a new stake in shares of Liquidia in the second quarter worth approximately $33,000. Whitcomb & Hess Inc. boosted its holdings in shares of Liquidia by 10.2% during the third quarter. Whitcomb & Hess Inc. now owns 11,599 shares of the company’s stock worth $116,000 after purchasing an additional 1,074 shares during the period. Deuterium Capital Management LLC purchased a new position in Liquidia during the second quarter valued at approximately $120,000. Finally, DMC Group LLC acquired a new position in Liquidia in the 2nd quarter valued at approximately $122,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

About Liquidia

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).