Liquidia (NASDAQ:LQDA) Sets New 52-Week High - Here's Why

Liquidia Co. (NASDAQ:LQDA - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.89 and last traded at $18.65, with a volume of 3189146 shares changing hands. The stock had previously closed at $15.99.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LQDA. Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of Liquidia in a research report on Monday, May 12th. Raymond James upped their target price on Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. Scotiabank restated an "outperform" rating on shares of Liquidia in a research report on Monday, May 5th. Oppenheimer lowered shares of Liquidia from a "market perform" rating to an "underperform" rating and set a $13.00 price target on the stock. in a research note on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $29.00 price objective on shares of Liquidia in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Liquidia currently has an average rating of "Buy" and a consensus price target of $25.56.

Liquidia Trading Up 0.2%

The firm has a market cap of $1.46 billion, a PE ratio of -10.47 and a beta of 0.24. The firm has a 50 day moving average price of $14.61 and a 200-day moving average price of $13.46.

Liquidia (NASDAQ:LQDA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.03). The business had revenue of $3.12 million during 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%. Equities analysts forecast that Liquidia Co. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Liquidia

In other Liquidia news, CEO Roger Jeffs sold 14,130 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 $191,744.10. Following the sale, the chief executive officer now owns 1,006,420 shares of the company's stock, valued at approximately $13,657,119.40. This represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell Schundler sold 5,964 shares of Liquidia stock in a transaction on Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $80,931.48. Following the transaction, the general counsel now directly owns 570,301 shares of the company's stock, valued at $7,738,984.57. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,138 shares of company stock valued at $450,233. 26.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Corebridge Financial Inc. lifted its stake in shares of Liquidia by 2.3% during the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company's stock worth $371,000 after purchasing an additional 694 shares during the period. Catalina Capital Group LLC grew its stake in shares of Liquidia by 6.5% during the 4th quarter. Catalina Capital Group LLC now owns 18,307 shares of the company's stock valued at $215,000 after buying an additional 1,125 shares during the period. GAMMA Investing LLC raised its position in shares of Liquidia by 65.6% in the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after buying an additional 1,173 shares during the period. Cetera Investment Advisers raised its position in shares of Liquidia by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 31,243 shares of the company's stock worth $367,000 after buying an additional 1,277 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in Liquidia 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 acquiring an additional 1,283 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).