HC Wainwright Reaffirms Buy Rating for Liquidia Technologies (NASDAQ:LQDA)

Key Points

• HC Wainwright has reaffirmed a buy rating for Liquidia Technologies (NASDAQ:LQDA) with a target price of $35.00, indicating a potential upside of 56.04% from the stock's previous close.
• Liquidia's stock has seen significant analyst support, with one equity research analyst giving a Strong Buy rating and several others providing buy ratings, though Weiss Ratings has issued a sell rating.
• The company reported a 141.5% year-over-year revenue increase for the quarter despite missing EPS estimates, showcasing substantial growth in its business operations.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $35.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 56.04% from the company's previous close.

Several other equities research analysts also recently issued reports on LQDA. Raymond James Financial raised their price objective on shares of Liquidia Technologies from $33.00 to $41.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 13th. Bank of America reduced their target price on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Jefferies Financial Group started coverage on shares of Liquidia Technologies in a research note on Friday, August 15th. They issued a "buy" rating and a $43.00 price objective for the company. Needham & Company LLC boosted their target price on shares of Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Liquidia Technologies in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.38.

Liquidia Technologies Stock Performance

Shares of LQDA opened at $22.43 on Monday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.19 and a beta of 0.15. Liquidia Technologies has a 12 month low of $9.71 and a 12 month high of $29.94. The firm has a fifty day simple moving average of $24.38 and a 200 day simple moving average of $18.09. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.06). The business had revenue of $8.84 million for the quarter, compared to analyst estimates of $3.90 million. Liquidia Technologies had a negative return on equity of 232.96% and a negative net margin of 732.17%.The business's revenue for the quarter was up 141.5% on a year-over-year basis. Research analysts forecast that Liquidia Technologies will post -1.51 EPS for the current fiscal year.

Insider Transactions at Liquidia Technologies

In other Liquidia Technologies news, CFO Michael Kaseta sold 30,000 shares of Liquidia Technologies stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 376,412 shares of the company's stock, valued at $7,528,240. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Manning sold 328,268 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $28.78, for a total value of $9,447,553.04. Following the completion of the transaction, the director directly owned 430,828 shares of the company's stock, valued at approximately $12,399,229.84. This represents a 43.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 881,097 shares of company stock worth $23,689,864. Company insiders own 30.10% of the company's stock.

Institutional Trading of Liquidia Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC raised its position in Liquidia Technologies by 10.2% in the second quarter. Ballentine Partners LLC now owns 12,139 shares of the company's stock worth $151,000 after acquiring an additional 1,119 shares during the period. GAMMA Investing LLC raised its holdings in shares of Liquidia Technologies by 65.6% in the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after purchasing an additional 1,173 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Liquidia Technologies by 24.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company's stock worth $77,000 after purchasing an additional 1,200 shares during the period. Valmark Advisers Inc. lifted its stake in Liquidia Technologies by 7.4% in the first quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock valued at $275,000 after purchasing an additional 1,283 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Liquidia Technologies by 6.4% during the first quarter. Bleakley Financial Group LLC now owns 25,308 shares of the company's stock valued at $373,000 after purchasing an additional 1,523 shares during the period. Hedge funds and other institutional investors own 64.54% of the company's stock.

Liquidia Technologies 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).

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