Liquidia (NASDAQ:LQDA) Reaches New 52-Week High - What's Next?

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $18.89 and last traded at $18.65, with a volume of 3189146 shares trading hands. The stock had previously closed at $15.99.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $29.00 price target on shares of Liquidia in a research note on Monday, May 12th. Scotiabank restated an "outperform" rating on shares of Liquidia in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $25.00 price target on shares of Liquidia in a research note on Monday, May 12th. Finally, Raymond James lifted their price target on Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $27.13.

Liquidia Price Performance

The stock has a 50-day simple moving average of $14.56 and a 200 day simple moving average of $13.40. The company has a market capitalization of $1.61 billion, a PE ratio of -11.58 and a beta of 0.24.

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

Insider Activity

In related news, CFO Michael Kaseta sold 8,283 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $112,400.31. Following the completion of the transaction, the chief financial officer now directly owns 396,315 shares in the company, valued at approximately $5,377,994.55. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason Adair sold 1,856 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $25,185.92. Following the completion of the transaction, the insider now owns 184,304 shares of the company's stock, valued at $2,501,005.28. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,138 shares of company stock worth $450,233 over the last three months. 26.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Liquidia

Institutional investors have recently added to or reduced their stakes in the business. LM Advisors LLC acquired a new stake in Liquidia during the fourth quarter worth about $25,948,000. Invesco Ltd. increased its stake in Liquidia by 2,675.0% during the fourth quarter. Invesco Ltd. now owns 700,171 shares of the company's stock worth $8,234,000 after acquiring an additional 674,940 shares during the last quarter. Janus Henderson Group PLC increased its stake in Liquidia by 1,484.5% during the fourth quarter. Janus Henderson Group PLC now owns 535,552 shares of the company's stock worth $6,293,000 after acquiring an additional 501,752 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in Liquidia during the fourth quarter worth about $5,880,000. Finally, Eversept Partners LP increased its stake in Liquidia by 314.1% during the fourth 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 during the last quarter. 64.54% of the stock is currently owned by institutional investors and hedge funds.

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).