Scotiabank Raises Liquidia (NASDAQ:LQDA) Price Target to $34.00

Liquidia (NASDAQ:LQDA) had its price objective lifted by investment analysts at Scotiabank from $30.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 124.87% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company began coverage on shares of Liquidia in a report on Friday, December 20th. They issued an “overweight” rating and a $20.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $29.00 price target on shares of Liquidia in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on Liquidia from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $26.63.

Liquidia Stock Down 2.1 %

LQDA opened at $15.12 on Thursday. Liquidia has a 52 week low of $8.26 and a 52 week high of $16.99. The stock has a market cap of $1.28 billion, a PE ratio of -9.28 and a beta of 0.07. The business has a 50 day moving average of $14.79 and a 200-day moving average of $12.18.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The firm had revenue of $2.92 million for the quarter, compared to analysts’ expectations of $4.60 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. Equities analysts anticipate that Liquidia will post -1.51 EPS for the current year.

Insiders Place Their Bets

In other news, insider Rajeev Saggar sold 2,445 shares of Liquidia stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.00, for a total value of $31,785.00. Following the completion of the sale, the insider now directly owns 267,943 shares in the company, valued at $3,483,259. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Roger Jeffs sold 22,343 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total transaction of $263,200.54. Following the transaction, the chief executive officer now owns 1,019,177 shares in the company, valued at approximately $12,005,905.06. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,245 shares of company stock valued at $843,326. Corporate insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Liquidia

A number of institutional investors and hedge funds have recently modified their holdings of LQDA. California State Teachers Retirement System boosted its holdings in shares of Liquidia by 17.5% in the fourth quarter. California State Teachers Retirement System now owns 51,928 shares of the company’s stock worth $611,000 after buying an additional 7,725 shares during the last quarter. Toronto Dominion Bank bought a new position in Liquidia in the fourth quarter worth approximately $235,000. Alpine Global Management LLC boosted its stake in shares of Liquidia by 50.0% during the 4th quarter. Alpine Global Management LLC now owns 150,000 shares of the company’s stock worth $1,764,000 after acquiring an additional 50,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Liquidia by 26.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,734 shares of the company’s stock valued at $1,243,000 after acquiring an additional 22,445 shares during the period. Finally, Whitefort Capital Management LP increased its stake in shares of Liquidia by 16.8% in the 4th quarter. Whitefort Capital Management LP now owns 1,987,245 shares of the company’s stock worth $23,370,000 after purchasing an additional 285,220 shares in the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Liquidia 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).