Liquidia (NASDAQ:LQDA) Shares Down 6.2% on Analyst Downgrade

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s share price dropped 6.2% on Wednesday after Bank of America lowered their price target on the stock from $25.00 to $23.00. Bank of America currently has a buy rating on the stock. Liquidia traded as low as $14.34 and last traded at $14.05. Approximately 755,149 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 1,172,214 shares. The stock had previously closed at $14.98.

LQDA has been the subject of several other research reports. HC Wainwright boosted their price target on shares of Liquidia from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company boosted their price target on shares of Liquidia from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Scotiabank boosted their price target on shares of Liquidia from $36.00 to $37.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Liquidia from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Liquidia in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.89.

Insider Transactions at Liquidia

In related news, insider Jason Adair sold 1,856 shares of the business'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 sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roger Jeffs sold 14,130 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $13,657,119.40. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,138 shares of company stock valued at $450,233. Insiders own 26.50% of the company's stock.

Institutional Investors Weigh In On Liquidia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hurley Capital LLC purchased a new stake in Liquidia in the first quarter valued at $32,000. GAMMA Investing LLC lifted its position in Liquidia by 65.6% in the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after acquiring an additional 1,173 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Liquidia in the fourth quarter valued at $59,000. Summit Investment Advisors Inc. lifted its position in Liquidia by 35.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company's stock valued at $78,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Quarry LP purchased a new stake in Liquidia in the first quarter valued at $79,000. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia Stock Down 2.4%

The business's fifty day moving average price is $15.16 and its 200 day moving average price is $14.13. The firm has a market capitalization of $1.21 billion, a PE ratio of -8.65 and a beta of 0.04.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.12 million during the quarter, compared to analysts' expectations of $3.23 million. On average, analysts anticipate that Liquidia Co. will post -1.51 earnings per share for the current year.

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).