Liquidia Technologies (NASDAQ:LQDA) Sets New 12-Month High - Here's Why

Key Points

• Liquidia Technologies reached a new 52-week high of $29.17 during trading, following a significant volume of 422,912 shares exchanged.
• Several investment firms have raised their price targets for Liquidia, with HC Wainwright setting it at $35.00 and Jefferies Financial Group at $43.00, indicating strong confidence in the stock's potential.
• Despite reporting a negative earnings per share of ($0.49), the company's revenue rose 141.5% year-over-year, leading analysts to expect a consensus target price of $32.11.

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.91 and last traded at $29.17, with a volume of 422912 shares traded. The stock had previously closed at $27.68.

Analyst Ratings Changes

LQDA has been the subject of several research reports. HC Wainwright lifted their price objective on Liquidia Technologies from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Raymond James Financial lifted their price objective on Liquidia Technologies from $33.00 to $41.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 13th. Jefferies Financial Group initiated coverage on Liquidia Technologies in a research report on Friday, August 15th. They set a "buy" rating and a $43.00 price objective for the company. Wells Fargo & Company lifted their price objective on Liquidia Technologies from $25.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Bank of America cut their price objective on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Liquidia Technologies presently has an average rating of "Buy" and a consensus target price of $32.11.

Liquidia Technologies Price Performance

The company has a fifty day simple moving average of $19.18 and a two-hundred day simple moving average of $16.44. The company has a debt-to-equity ratio of 9.84, a quick ratio of 2.41 and a current ratio of 2.49. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -17.05 and a beta of 0.22.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.06). The business had revenue of $8.84 million during the quarter, compared to analyst estimates of $3.90 million. Liquidia Technologies had a negative net margin of 732.17% and a negative return on equity of 232.96%. The company's revenue was up 141.5% on a year-over-year basis. As a group, research analysts anticipate that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Liquidia Technologies

In other news, insider Rajeev Saggar sold 2,526 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $14.54, for a total transaction of $36,728.04. Following the completion of the sale, the insider directly owned 268,887 shares in the company, valued at $3,909,616.98. This represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Adair sold 2,576 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $14.28, for a total value of $36,785.28. Following the sale, the insider owned 193,634 shares of the company's stock, valued at approximately $2,765,093.52. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,277 shares of company stock worth $1,469,392. 30.10% of the stock is currently owned by company insiders.

Institutional Trading of Liquidia Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Opaleye Management Inc. increased its holdings in shares of Liquidia Technologies by 9.5% during the 2nd quarter. Opaleye Management Inc. now owns 2,475,000 shares of the company's stock worth $30,838,000 after buying an additional 215,000 shares during the last quarter. Whitefort Capital Management LP boosted its position in Liquidia Technologies by 16.8% during the 4th quarter. Whitefort Capital Management LP now owns 1,987,245 shares of the company's stock worth $23,370,000 after purchasing an additional 285,220 shares during the period. Vestal Point Capital LP boosted its position in Liquidia Technologies by 17.3% during the 4th quarter. Vestal Point Capital LP now owns 1,760,000 shares of the company's stock worth $20,698,000 after purchasing an additional 260,000 shares during the period. Geode Capital Management LLC boosted its position in Liquidia Technologies by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,405,747 shares of the company's stock worth $17,517,000 after purchasing an additional 32,499 shares during the period. Finally, Tyro Capital Management LLC purchased a new stake in Liquidia Technologies during the 2nd quarter worth $15,473,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Liquidia Technologies 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).

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