Liquidia (NASDAQ:LQDA) Trading Down 6.2% Following Analyst Downgrade

Liquidia Co. (NASDAQ:LQDA - Get Free Report) shares traded down 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. 755,149 shares were traded during trading, a decline of 36% from the average session volume of 1,172,214 shares. The stock had previously closed at $14.98.

A number of other equities research analysts also recently issued reports on LQDA. Wall Street Zen raised shares of Liquidia from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Oppenheimer set a $13.00 price objective on shares of Liquidia and gave the company an "underperform" rating in a research report on Monday, May 19th. BTIG Research reissued a "buy" rating on shares of Liquidia in a research report on Tuesday, May 27th. Wells Fargo & Company boosted their price objective 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. Finally, HC Wainwright boosted their price objective on shares of Liquidia from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. One equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.89.

Insider Buying and Selling

In other Liquidia news, 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 value of $191,744.10. Following the sale, the chief executive officer now owns 1,006,420 shares in the company, valued at $13,657,119.40. The trade was a 1.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell Schundler sold 5,964 shares of the business's stock in a transaction 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 sale, the general counsel now owns 570,301 shares in the company, valued at approximately $7,738,984.57. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,138 shares of company stock valued at $450,233. Company insiders own 26.50% of the company's stock.

Institutional Trading of Liquidia

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its stake in 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 purchasing an additional 1,277 shares in the last quarter. Deutsche Bank AG lifted its stake in Liquidia by 53.4% in the 4th quarter. Deutsche Bank AG now owns 51,075 shares of the company's stock worth $601,000 after purchasing an additional 17,790 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Liquidia in the 4th quarter worth $218,000. Millennium Management LLC purchased a new stake in Liquidia in the 4th quarter worth $526,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Liquidia by 9.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 428,570 shares of the company's stock worth $5,040,000 after purchasing an additional 38,313 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company's stock.

Liquidia Trading Down 2.4%

The firm's 50-day moving average price is $15.16 and its 200-day moving average price is $14.14. The stock 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 quarterly 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 the consensus estimate of $3.23 million. On average, equities research analysts predict that Liquidia Co. will post -1.51 earnings per share for the current fiscal 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).