Liquidia Technologies (NASDAQ:LQDA) Reaches New 12-Month High - Still a Buy?

Key Points

• Liquidia Technologies reached a new 52-week high with shares peaking at $19.76 during trading, closing at $19.57.
• Several analysts have boosted their price targets for LQDA, with Raymond James setting a target of $29.00 and HC Wainwright at $35.00, reflecting strong bullish sentiments.
• The company reported an earnings miss with an EPS of ($0.45), falling short of the consensus estimate, along with revenues of $3.12 million.
• Insider trading activity included significant sales by CFO Michael Kaseta and General Counsel Russell Schundler, with total insider sales amounting to $846,229 over the last three months.

Shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $19.76 and last traded at $19.57, with a volume of 735558 shares traded. The stock had previously closed at $18.77.

Analyst Upgrades and Downgrades

Several research firms have commented on LQDA. Bank of America lowered their target price on shares of Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their target price on shares of Liquidia Technologies from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Needham & Company LLC reaffirmed a "buy" rating on shares of Liquidia Technologies in a research note on Monday, June 2nd. Wall Street Zen raised shares of Liquidia Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright lifted their target price on shares of Liquidia Technologies from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.89.

Liquidia Technologies Price Performance

The company's 50 day moving average price is $14.90 and its 200-day moving average price is $14.77. The company has a market capitalization of $1.65 billion, a PE ratio of -12.19 and a beta of -0.01. The company has a current ratio of 2.93, a quick ratio of 2.91 and a debt-to-equity ratio of 2.08.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The business had revenue of $3.12 million for the quarter, compared to analyst estimates of $3.23 million. Liquidia Technologies had a negative net margin of 903.80% and a negative return on equity of 177.91%. On average, sell-side analysts forecast that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Liquidia Technologies

In other Liquidia Technologies news, insider Rajeev Saggar sold 5,327 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $14.28, for a total value of $76,069.56. Following the transaction, the insider owned 271,413 shares in the company, valued at $3,875,777.64. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Kaseta sold 11,580 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $14.28, for a total transaction of $165,362.40. Following the completion of the transaction, the chief financial officer owned 406,412 shares in the company, valued at $5,803,563.36. This represents a 2.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,760 shares of company stock worth $839,750. Corporate insiders own 30.10% of the company's stock.

Institutional Investors Weigh In On Liquidia Technologies

A number of institutional investors have recently modified their holdings of the stock. Corebridge Financial Inc. raised its stake in shares of Liquidia Technologies by 2.3% in the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company's stock valued at $371,000 after purchasing an additional 694 shares in the last quarter. Ballentine Partners LLC grew its position in Liquidia Technologies by 10.2% in the 2nd quarter. Ballentine Partners LLC now owns 12,139 shares of the company's stock worth $151,000 after purchasing an additional 1,119 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Liquidia Technologies 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 in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Liquidia Technologies by 4.3% in the fourth quarter. Cetera Investment Advisers now owns 31,243 shares of the company's stock valued at $367,000 after acquiring an additional 1,277 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of Liquidia Technologies 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 in the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

About Liquidia Technologies

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).