Needham & Company LLC Issues Positive Forecast for Liquidia (NASDAQ:LQDA) Stock Price

Key Points

• Needham raised its Liquidia price target from $58 to $66 and maintained a Buy rating, implying 28.4% upside from the prior close.
• Analyst views remain mixed: six rate the stock Buy, four Hold, and two Sell; the consensus rating is Hold with an average target of $74.92.
• Liquidia’s quarterly revenue rose 314.9% year over year to $225.3 million, topping estimates, while the company reported a GAAP loss of $2.64 per share, attributed in related coverage to a large charge.

Liquidia (NASDAQ:LQDA - Get Free Report) had its target price increased by Needham & Company LLC from $58.00 to $66.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 28.40% from the company's previous close.

Other analysts have also issued reports about the stock. Royal Bank Of Canada set a $65.00 price target on shares of Liquidia in a research report on Thursday, October 15th. Piper Sandler set a $129.00 price objective on shares of Liquidia in a research report on Friday, July 24th. Raymond James Financial reiterated an "outperform" rating on shares of Liquidia in a research note on Thursday, October 8th. Jefferies Financial Group increased their target price on shares of Liquidia from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Stephens set a $130.00 target price on shares of Liquidia in a research report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Liquidia presently has a consensus rating of "Hold" and an average target price of $74.92.

Liquidia Trading Up 7.4%

Shares of NASDAQ LQDA opened at $51.40 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 2.12. The stock has a market capitalization of $4.60 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 0.42 and a beta of 0.40. Liquidia has a 1-year low of $22.31 and a 1-year high of $93.61. The business has a fifty day moving average price of $49.65 and a 200 day moving average price of $54.53.

Liquidia (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($2.64) earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($3.60). Liquidia had a net margin of 30.74% and a return on equity of 149.65%. The company had revenue of $225.30 million for the quarter, compared to the consensus estimate of $214.18 million. During the same period in the previous year, the business earned ($0.04) EPS. Liquidia's revenue for the quarter was up 314.9% compared to the same quarter last year. Equities research analysts expect that Liquidia will post 2.05 EPS for the current fiscal year.

Insider Activity at Liquidia

In other news, Director Stephen M. Bloch sold 235,477 shares of the business's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $27.13, for a total transaction of $6,388,491.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rajeev Saggar sold 50,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $74.06, for a total value of $3,703,000.00. Following the sale, the insider owned 142,265 shares in the company, valued at $10,536,145.90. The trade was a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 566,579 shares of company stock worth $25,746,120 over the last ninety days. Corporate insiders own 25.60% of the company's stock.

Institutional Trading of Liquidia

A number of institutional investors have recently bought and sold shares of LQDA. The Manufacturers Life Insurance Company raised its holdings in shares of Liquidia by 63.3% in the first quarter. The Manufacturers Life Insurance Company now owns 58,265 shares of the company's stock worth $2,199,000 after buying an additional 22,592 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Liquidia during the second quarter worth $29,694,000. Seven Fleet Capital Management LP grew its holdings in shares of Liquidia by 25.2% during the second quarter. Seven Fleet Capital Management LP now owns 256,603 shares of the company's stock valued at $20,459,000 after buying an additional 51,727 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Liquidia during the second quarter valued at $1,236,000. Finally, Bank of America Corp DE grew its holdings in shares of Liquidia by 18.7% during the first quarter. Bank of America Corp DE now owns 2,287,792 shares of the company's stock valued at $86,341,000 after buying an additional 360,372 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Liquidia

Here are the key news stories impacting Liquidia this week:

• Positive Sentiment: YUTREPIA generated $222.7 million in third-quarter sales, helping lift total revenue to $225.3 million—up 314.9% year over year and ahead of analysts’ estimates. Adjusted EPS was reported at $0.80, above the $0.77 consensus. Liquidia Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reports said litigation was resolved, potentially reducing a significant source of uncertainty for the company. Shares reportedly rose following the results and legal update. Liquidia rises after third-quarter results, litigation resolved
• Positive Sentiment: BTIG raised its price target to $87 from $70 and maintained a Buy rating, reflecting a more bullish analyst outlook. BTIG Research ratings
• Negative Sentiment: Despite the adjusted-earnings beat, Liquidia reported a GAAP loss of $2.64 per share, versus expectations for a profit. A $389.7 million charge reportedly masked the strong sales quarter, so investors may focus on its impact and the company’s underlying earnings outlook. A charge masks a booming YUTREPIA quarter

Liquidia Company Profile

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.

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