Liquidia (NASDAQ:LQDA) Shares Down 6.9% - Here's What Happened

Key Points

• Liquidia shares fell 6.9% on Monday, trading as low as $72.40 after closing at $77.93, with volume far below normal at about 250,864 shares.
• Despite the drop, Wall Street sentiment remains generally positive: analysts have an average “Moderate Buy” rating and a consensus price target of $68.88, with several firms recently raising targets or upgrading the stock.
• Liquidia recently posted strong quarterly results, reporting EPS of $0.52 versus $0.41 expected and revenue of $132.87 million, while insider selling has been notable with over 2.09 million shares sold in the last three months.

Liquidia Corporation (NASDAQ:LQDA - Get Free Report) traded down 6.9% on Monday . The company traded as low as $72.40 and last traded at $72.5420. Approximately 250,864 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,826,066 shares. The stock had previously closed at $77.93.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LQDA. Wells Fargo & Company lifted their target price on Liquidia from $51.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Raymond James Financial reissued a "strong-buy" rating and issued a $68.00 price target on shares of Liquidia in a research note on Thursday, June 4th. Zacks Research upgraded Liquidia from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Liquidia in a research note on Tuesday, April 21st. Finally, Needham & Company LLC upped their target price on Liquidia from $54.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Liquidia currently has an average rating of "Moderate Buy" and a consensus target price of $68.88.

Liquidia Price Performance

The firm has a market cap of $6.34 billion, a P/E ratio of 509.50 and a beta of 0.55. The company has a quick ratio of 2.03, a current ratio of 2.22 and a debt-to-equity ratio of 1.18. The business's 50 day moving average is $65.00 and its two-hundred day moving average is $46.98.

Liquidia (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.11. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The business had revenue of $132.87 million for the quarter, compared to analysts' expectations of $119.44 million. The company's revenue for the quarter was up 4187.1% compared to the same quarter last year. As a group, analysts anticipate that Liquidia Corporation will post 3.02 earnings per share for the current year.

Insider Buying and Selling at Liquidia

In other Liquidia news, Director Stephen M. Bloch sold 318,893 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the transaction, the director directly owned 1,870,042 shares in the company, valued at approximately $93,932,209.66. This represents a 14.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul B. Manning sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $63.91, for a total transaction of $12,782,000.00. Following the sale, the director directly owned 716,311 shares of the company's stock, valued at approximately $45,779,436.01. This trade represents a 21.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,095,867 shares of company stock valued at $128,914,130. 25.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Liquidia

A number of large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Liquidia during the fourth quarter valued at about $25,000. Covestor Ltd boosted its position in shares of Liquidia by 41.9% during the 4th quarter. Covestor Ltd now owns 1,216 shares of the company's stock worth $42,000 after purchasing an additional 359 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Liquidia in the 3rd quarter valued at about $34,000. NewEdge Advisors LLC acquired a new stake in shares of Liquidia in the 2nd quarter valued at about $25,000. Finally, Fluent Financial LLC bought a new stake in Liquidia in the 2nd quarter valued at about $287,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Liquidia Company Profile

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company's lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.