Liquidia Technologies (NASDAQ:LQDA) Trading 5.3% Higher Following Analyst Upgrade

Key Points

• Liquidia Technologies' share price increased by 5.3% after Raymond James Financial raised their price target from $33.00 to $41.00, maintaining a strong-buy rating on the stock.
• A total of 90,277 shares were sold by company insiders recently, with notable sales by the CEO and another insider, decreasing their ownership stakes.
• Liquidia Technologies reported a 141.5% year-over-year increase in quarterly revenue, reaching $8.84 million, despite missing earnings per share estimates.

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report)'s share price rose 5.3% on Thursday after Raymond James Financial raised their price target on the stock from $33.00 to $41.00. Raymond James Financial currently has a strong-buy rating on the stock. Liquidia Technologies traded as high as $26.39 and last traded at $26.53. Approximately 2,712,016 shares changed hands during mid-day trading, an increase of 55% from the average daily volume of 1,754,774 shares. The stock had previously closed at $25.20.

Other equities research analysts have also issued research reports about the stock. HC Wainwright increased their price objective on shares of Liquidia Technologies from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Scotiabank raised their price objective on shares of Liquidia Technologies from $36.00 to $37.00 and gave the stock a "sector outperform" rating in a report on Wednesday, May 28th. Bank of America reduced their price target on shares of Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Wall Street Zen upgraded shares of Liquidia Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, BTIG Research reaffirmed a "buy" rating on shares of Liquidia Technologies in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.11.

Insiders Place Their Bets

In other news, insider Scott Moomaw sold 4,797 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $14.28, for a total value of $68,501.16. Following the completion of the sale, the insider directly owned 223,231 shares of the company's stock, valued at $3,187,738.68. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Roger Jeffs sold 20,252 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $14.28, for a total transaction of $289,198.56. Following the completion of the sale, the chief executive officer directly owned 1,038,560 shares of the company's stock, valued at approximately $14,830,636.80. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,277 shares of company stock valued at $1,469,392. 26.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Liquidia Technologies

Several institutional investors have recently bought and sold shares of LQDA. NewEdge Advisors LLC bought a new position in Liquidia Technologies during the 2nd quarter valued at about $25,000. Hurley Capital LLC purchased a new position in shares of Liquidia Technologies during the first quarter valued at approximately $32,000. GAMMA Investing LLC raised 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 worth $44,000 after buying an additional 1,173 shares during the period. Quarry LP purchased a new stake in shares of Liquidia Technologies in the first quarter worth approximately $79,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Liquidia Technologies by 24.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company's stock worth $77,000 after acquiring an additional 1,200 shares during the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia Technologies Price Performance

The stock has a 50 day moving average of $15.98 and a 200-day moving average of $15.36. The company has a current ratio of 2.93, a quick ratio of 2.91 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $2.25 billion, a P/E ratio of -15.55 and a beta of 0.14.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.06). The company had revenue of $8.84 million during the quarter, compared to the consensus estimate of $3.90 million. Liquidia Technologies had a negative return on equity of 185.89% and a negative net margin of 732.17%. The business's quarterly revenue was up 141.5% on a year-over-year basis. On average, equities research analysts anticipate that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current fiscal year.

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).

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