Bank of America Cuts Liquidia (NASDAQ:LQDA) Price Target to $23.00

Liquidia (NASDAQ:LQDA - Get Free Report) had its price objective cut by equities research analysts at Bank of America from $25.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 63.12% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Liquidia from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Oppenheimer set a $13.00 target price on shares of Liquidia and gave the company an "underperform" rating in a research note on Monday, May 19th. Scotiabank lifted their target price on shares of Liquidia from $36.00 to $37.00 and gave the company a "sector outperform" rating in a research note on Wednesday, May 28th. HC Wainwright lifted their target price on shares of Liquidia from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Liquidia in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.89.

Liquidia Stock Down 2.4%

Shares of Liquidia stock traded down $0.35 during trading on Wednesday, reaching $14.10. The company's stock had a trading volume of 1,836,127 shares, compared to its average volume of 1,206,659. Liquidia has a 52-week low of $8.26 and a 52-week high of $19.41. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -8.65 and a beta of 0.04. The firm's 50-day moving average is $15.16 and its two-hundred day moving average is $14.14.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The firm had revenue of $3.12 million for the quarter, compared to analysts' expectations of $3.23 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. On average, equities research analysts anticipate that Liquidia will post -1.51 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Roger Jeffs sold 14,130 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $191,744.10. Following the completion of the sale, the chief executive officer now directly owns 1,006,420 shares in the company, valued at approximately $13,657,119.40. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell Schundler sold 5,964 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $13.57, for a total transaction of $80,931.48. Following the completion of the transaction, the general counsel now owns 570,301 shares of the company's stock, valued at approximately $7,738,984.57. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,138 shares of company stock valued at $450,233. Insiders own 26.50% of the company's stock.

Hedge Funds Weigh In On Liquidia

Hedge funds have recently modified their holdings of the company. Hurley Capital LLC purchased a new position in shares of Liquidia in the first quarter worth $32,000. GAMMA Investing LLC grew its holdings in Liquidia by 65.6% during the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after purchasing an additional 1,173 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Liquidia during the 4th quarter valued at about $59,000. Summit Investment Advisors Inc. grew its holdings in Liquidia by 35.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company's stock valued at $78,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Quarry LP bought a new position in Liquidia during the 1st quarter valued at about $79,000. 64.54% of the stock is currently owned by 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).