Liquidia (NASDAQ:LQDA) Price Target Raised to $23.00

Liquidia (NASDAQ:LQDA) had its price objective upped by Wells Fargo & Company from $20.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. HC Wainwright raised their price target on shares of Liquidia from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of Liquidia in a report on Monday, May 5th. Wall Street Zen upgraded shares of Liquidia from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Raymond James lifted their target price on shares of Liquidia from $27.00 to $29.00 and gave the company a “strong-buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Liquidia in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.67.

Liquidia Price Performance

NASDAQ LQDA opened at $15.03 on Wednesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.22 and a beta of 0.24. The company’s fifty day moving average is $14.71 and its two-hundred day moving average is $13.72. Liquidia has a 52-week low of $8.26 and a 52-week high of $19.41.

Liquidia (NASDAQ:LQDA) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The company had revenue of $3.12 million during the quarter, compared to analyst estimates of $3.23 million. Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. As a group, sell-side analysts expect that Liquidia will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In other Liquidia news, insider Jason Adair sold 1,856 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $25,185.92. Following the transaction, the insider now directly owns 184,304 shares in the company, valued at $2,501,005.28. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajeev Saggar sold 2,450 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $13.67, for a total transaction of $33,491.50. Following the completion of the transaction, the insider now owns 263,152 shares in the company, valued at approximately $3,597,287.84. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,138 shares of company stock worth $450,233. Corporate insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On Liquidia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LQDA. DMC Group LLC boosted its position in Liquidia by 17.4% in the fourth quarter. DMC Group LLC now owns 16,302 shares of the company’s stock valued at $192,000 after buying an additional 2,419 shares in the last quarter. Catalina Capital Group LLC boosted its position in Liquidia by 6.5% in the fourth quarter. Catalina Capital Group LLC now owns 18,307 shares of the company’s stock valued at $215,000 after buying an additional 1,125 shares in the last quarter. Rhumbline Advisers boosted its position in Liquidia by 3.5% in the fourth quarter. Rhumbline Advisers now owns 80,652 shares of the company’s stock valued at $948,000 after buying an additional 2,741 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Liquidia by 3.4% during the fourth quarter. Sigma Planning Corp now owns 65,210 shares of the company’s stock worth $767,000 after purchasing an additional 2,115 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Liquidia by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 188,584 shares of the company’s stock worth $2,218,000 after purchasing an additional 6,034 shares in the last quarter. 64.54% of the stock is currently owned by institutional investors and hedge funds.

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).