Liquidia (NASDAQ:LQDA) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Liquidia (NASDAQ:LQDA - Free Report) in a report released on Wednesday,Benzinga reports. The firm currently has a $25.00 price objective on the stock.

LQDA has been the subject of a number of other research reports. HC Wainwright reiterated a "buy" rating and set a $29.00 target price on shares of Liquidia in a research report on Monday, May 12th. Raymond James raised their price objective on Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research note on Friday, May 9th. Scotiabank reiterated an "outperform" rating on shares of Liquidia in a report on Monday, May 5th. Finally, Oppenheimer set a $13.00 price target on shares of Liquidia and gave the company an "underperform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.56.

Liquidia Price Performance

Shares of Liquidia stock traded down $0.21 during midday trading on Wednesday, reaching $15.35. The company had a trading volume of 4,742,122 shares, compared to its average volume of 1,065,159. The stock has a fifty day moving average price of $14.74 and a 200 day moving average price of $13.57. Liquidia has a fifty-two week low of $8.26 and a fifty-two week high of $19.41. The firm has a market cap of $1.31 billion, a PE ratio of -9.42 and a beta of 0.24.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly 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). Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. The company had revenue of $3.12 million during the quarter, compared to the consensus estimate of $3.23 million. As a group, sell-side analysts forecast that Liquidia will post -1.51 EPS for the current year.

Insider Activity at Liquidia

In related news, insider Rajeev Saggar sold 2,450 shares of Liquidia stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $13.67, for a total transaction of $33,491.50. Following the completion of the sale, the insider now owns 263,152 shares of the company's stock, valued at $3,597,287.84. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell Schundler sold 5,964 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $80,931.48. Following the completion of the sale, the general counsel now directly owns 570,301 shares in the company, valued at approximately $7,738,984.57. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,138 shares of company stock valued at $450,233 over the last 90 days. Insiders own 26.50% of the company's stock.

Institutional Investors Weigh In On Liquidia

Hedge funds have recently added to or reduced their stakes in the business. Corebridge Financial Inc. grew its stake in shares of Liquidia by 2.3% during the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company's stock worth $371,000 after purchasing an additional 694 shares during the period. Catalina Capital Group LLC grew its stake in shares of Liquidia by 6.5% during the 4th quarter. Catalina Capital Group LLC now owns 18,307 shares of the company's stock worth $215,000 after purchasing an additional 1,125 shares during the period. GAMMA Investing LLC increased its stake in shares of Liquidia by 65.6% in the 1st 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 in the last quarter. Cetera Investment Advisers increased its stake in shares of Liquidia by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 31,243 shares of the company's stock valued at $367,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Valmark Advisers Inc. increased its stake in shares of Liquidia by 7.4% in the 1st quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock valued at $275,000 after purchasing an additional 1,283 shares in the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia 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).