Liquidia Technologies (NASDAQ:LQDA) Stock Price Down 5.1% - Time to Sell?

Key Points

• Liquidia Technologies' stock price fell by 5.1% to $21.30 on Friday, with trading volume increasing by 7% compared to its average session volume.
• A majority of analysts maintain a "Buy" rating for Liquidia, with a consensus target price of $32.11, despite Bank of America's recent downgrade to a target of $23.00.
• The company reported a 141.5% increase in quarterly revenue to $8.84 million, although the earnings per share fell short of estimates.

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report)'s share price fell 5.1% during mid-day trading on Friday . The stock traded as low as $21.15 and last traded at $21.30. 2,035,966 shares were traded during trading, an increase of 7% from the average session volume of 1,906,986 shares. The stock had previously closed at $22.45.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LQDA shares. Raymond James Financial upped their price objective on shares of Liquidia Technologies from $33.00 to $41.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 13th. Wells Fargo & Company boosted their target price on shares of Liquidia Technologies from $25.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Needham & Company LLC increased their price target on Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Bank of America dropped their price objective on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group assumed coverage on Liquidia Technologies in a research note on Friday, August 15th. They set a "buy" rating and a $43.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Liquidia Technologies currently has an average rating of "Buy" and a consensus target price of $32.11.

Liquidia Technologies Price Performance

The business has a 50-day moving average of $23.75 and a 200 day moving average of $17.72. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84. The firm has a market capitalization of $1.88 billion, a P/E ratio of -12.86 and a beta of 0.22.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.06). Liquidia Technologies had a negative return on equity of 232.96% and a negative net margin of 732.17%.The firm had revenue of $8.84 million during the quarter, compared to the consensus estimate of $3.90 million. The company's quarterly revenue was up 141.5% compared to the same quarter last year. On average, sell-side analysts predict 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 Jason Adair sold 26,057 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $27.86, for a total transaction of $725,948.02. Following the transaction, the insider owned 171,029 shares in the company, valued at approximately $4,764,867.94. This represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rajeev Saggar sold 20,000 shares of Liquidia Technologies stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $27.85, for a total transaction of $557,000.00. Following the transaction, the insider owned 249,727 shares of the company's stock, valued at $6,954,896.95. This represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 881,097 shares of company stock worth $23,689,864 in the last ninety days. 26.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LQDA. Ballentine Partners LLC increased its stake in shares of Liquidia Technologies by 10.2% during 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 grew its holdings in Liquidia Technologies by 65.6% during the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after purchasing an additional 1,173 shares during the period. Steward Partners Investment Advisory LLC increased its position in Liquidia Technologies by 24.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company's stock worth $77,000 after buying an additional 1,200 shares during the last quarter. Cetera Investment Advisers raised its stake 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 buying an additional 1,277 shares during the period. Finally, Valmark Advisers Inc. lifted its position in shares of Liquidia Technologies by 7.4% during the 1st quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock valued at $275,000 after buying an additional 1,283 shares during the last quarter. Institutional investors own 64.54% of the company's stock.

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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