Bank of America Issues Pessimistic Forecast for Liquidia (NASDAQ:LQDA) Stock Price

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

Several other research firms have also recently weighed in on LQDA. Wall Street Zen raised shares of Liquidia from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BTIG Research reissued a "buy" rating on shares of Liquidia in a report on Tuesday, May 27th. Raymond James increased their price target on shares of Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a report on Friday, May 9th. Needham & Company LLC restated a "buy" rating on shares of Liquidia in a research report on Monday, June 2nd. Finally, Oppenheimer set a $13.00 target price on shares of Liquidia and gave the stock an "underperform" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.89.

Liquidia Trading Down 2.4%

Shares of Liquidia stock traded down $0.35 during trading hours on Wednesday, reaching $14.10. 1,836,127 shares of the company's stock were exchanged, compared to its average volume of 1,205,487. The company has a 50 day moving average of $15.16 and a two-hundred day moving average of $14.13. Liquidia has a fifty-two week low of $8.26 and a fifty-two week high of $19.41. The stock has a market cap of $1.21 billion, a P/E ratio of -8.65 and a beta of 0.04.

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

Insider Buying and Selling

In other news, insider Rajeev Saggar sold 2,450 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $13.67, for a total value of $33,491.50. Following the sale, the insider now owns 263,152 shares of the company's stock, valued at $3,597,287.84. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Roger Jeffs sold 14,130 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 $191,744.10. Following the sale, the chief executive officer now directly owns 1,006,420 shares in the company, valued at $13,657,119.40. This trade represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,138 shares of company stock worth $450,233. 26.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Liquidia

A number of hedge funds and other institutional investors have recently bought and sold shares of LQDA. LM Advisors LLC purchased a new position in Liquidia in the 4th quarter worth approximately $25,948,000. Invesco Ltd. raised its holdings in Liquidia by 2,675.0% in the 4th quarter. Invesco Ltd. now owns 700,171 shares of the company's stock worth $8,234,000 after purchasing an additional 674,940 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Liquidia by 1,484.5% in the 4th quarter. Janus Henderson Group PLC now owns 535,552 shares of the company's stock worth $6,293,000 after purchasing an additional 501,752 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Liquidia in the 4th quarter worth $5,880,000. Finally, Eversept Partners LP increased its stake in shares of Liquidia by 314.1% in the 4th quarter. Eversept Partners LP now owns 571,305 shares of the company's stock worth $6,719,000 after acquiring an additional 433,356 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company's stock.

About Liquidia

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).