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

Liquidia (NASDAQ:LQDA - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $25.00 target price on the stock. Needham & Company LLC's price target would indicate a potential upside of 86.29% from the stock's previous close.

Several other analysts also recently issued reports on LQDA. Scotiabank reissued an "outperform" rating on shares of Liquidia in a research note on Thursday, March 20th. Wells Fargo & Company started coverage on Liquidia in a research report on Friday, December 20th. They set an "overweight" rating and a $20.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $29.00 price target on shares of Liquidia in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $26.63.

Liquidia Stock Down 3.0 %

LQDA traded down $0.41 during trading on Thursday, reaching $13.42. The stock had a trading volume of 317,937 shares, compared to its average volume of 964,554. The stock has a 50 day moving average of $14.84 and a two-hundred day moving average of $12.72. Liquidia has a 1-year low of $8.26 and a 1-year high of $16.81. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -8.23 and a beta of 0.23.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $4.60 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. On average, research analysts forecast that Liquidia will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Liquidia

In other news, insider Rajeev Saggar sold 2,445 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $13.00, for a total transaction of $31,785.00. Following the completion of the transaction, the insider now directly owns 267,943 shares of the company's stock, valued at approximately $3,483,259. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 30.10% of the company's stock.

Hedge Funds Weigh In On Liquidia

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Liquidia 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 acquiring an additional 1,173 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Liquidia during the fourth quarter worth $59,000. Summit Investment Advisors Inc. increased its stake in shares of Liquidia by 35.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company's stock valued at $78,000 after buying an additional 1,719 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Liquidia in the fourth quarter valued at about $142,000. Finally, EntryPoint Capital LLC bought a new stake in Liquidia during the 4th quarter worth about $154,000. 64.54% of the stock is owned by institutional investors and hedge funds.

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).