Liquidia Corporation (NASDAQ:LQDA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Liquidia has a consensus analyst rating of “Moderate Buy” from 11 analysts, with an average 1-year price target of $68.88. Recent analyst moves were mixed, including BTIG raising its target to $109 and Bank of America lifting its target to $79 while keeping a neutral rating.
• The company’s recent operating update was strong, with quarterly earnings of $0.52 per share beating estimates and revenue of $132.87 million topping expectations. Revenue also surged year over year, and commentary pointed to a strong commercial debut for its lead product Yutrepia.
• Despite the positive business momentum, insider selling has been notable, including large share sales by directors and multiple executives in recent transactions. Liquidia shares were also trading higher, with the stock up 7.4% on the day cited in the article.

Shares of Liquidia Corporation (NASDAQ:LQDA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $68.8750.

A number of equities analysts have commented on LQDA shares. BTIG Research lifted their target price on Liquidia from $59.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Wall Street Zen downgraded Liquidia from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Liquidia in a research report on Tuesday, April 21st. HC Wainwright upped their price objective on Liquidia from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $79.00 target price (up from $64.00) on shares of Liquidia in a research report on Monday, June 29th.

Liquidia News Roundup

Here are the key news stories impacting Liquidia this week:

• Positive Sentiment: Recent commentary notes that Liquidia’s Yutrepia has had a strong commercial debut, suggesting early traction in its pulmonary arterial hypertension market opportunity. Can LQDA's Yutrepia Drive Growth in the Competitive PAH Market?
• Neutral Sentiment: An investor letter from Laughing Water Capital mentioned Liquidia in a broader portfolio update, but did not provide a clear company-specific catalyst. Here’s Laughing Water Capital’s Updates on Liquidia Corp. (LQDA)
• Negative Sentiment: Multiple insiders, including the CEO, CFO, general counsel, and other executives, sold shares on July 13 in pre-arranged 10b5-1 transactions tied to tax withholding from vesting equity awards. While these sales were planned and not necessarily a bearish signal, the size and breadth of the sales may still pressure investor sentiment. SEC filing - Roger Jeffs sale

Liquidia Trading Up 7.4%

NASDAQ LQDA opened at $76.49 on Wednesday. Liquidia has a one year low of $14.04 and a one year high of $82.96. The company has a 50-day simple moving average of $66.37 and a 200-day simple moving average of $47.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.03 and a current ratio of 2.22. The firm has a market capitalization of $6.80 billion, a PE ratio of 546.40 and a beta of 0.55.

Liquidia (NASDAQ:LQDA - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The firm had revenue of $132.87 million for the quarter, compared to analyst estimates of $119.44 million. The company's revenue for the quarter was up 4187.1% on a year-over-year basis. On average, equities analysts forecast that Liquidia will post 3.02 earnings per share for the current year.

Insider Activity

In related news, Director Paul B. Manning sold 200,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $63.91, for a total value of $12,782,000.00. Following the sale, the director owned 716,311 shares of the company's stock, valued at $45,779,436.01. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen M. Bloch sold 318,893 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the completion of the sale, the director directly owned 1,870,042 shares in the company, valued at approximately $93,932,209.66. This trade represents a 14.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,040,973 shares of company stock valued at $130,344,087 in the last 90 days. Insiders own 25.60% of the company's stock.

Institutional Investors Weigh In On Liquidia

Several large investors have recently made changes to their positions in LQDA. Covestor Ltd boosted its position in shares of Liquidia by 41.9% during the 4th quarter. Covestor Ltd now owns 1,216 shares of the company's stock valued at $42,000 after purchasing an additional 359 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Liquidia by 7.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,304 shares of the company's stock worth $217,000 after purchasing an additional 422 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Liquidia by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 17,165 shares of the company's stock worth $648,000 after purchasing an additional 589 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Liquidia during the fourth quarter valued at approximately $25,000. Finally, ProShare Advisors LLC lifted its stake in Liquidia by 7.1% during the fourth quarter. ProShare Advisors LLC now owns 11,756 shares of the company's stock valued at $405,000 after purchasing an additional 775 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Company Profile

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company's lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).

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