Liquidia (NASDAQ:LQDA) Stock Price Up 5.8% Following Analyst Upgrade

Key Points

• Liquidia shares rose 5.8% after BTIG raised its price target from $70 to $87 and maintained a Buy rating.
• Analyst views remain mixed: the consensus rating is Hold, with an average price target of $74.15.
• Third-quarter revenue jumped 314.9% year over year to $225.3 million, beating estimates; adjusted EPS also topped expectations, while reported GAAP EPS was a $2.64 loss, attributed in part to a large charge.

Shares of Liquidia Corporation (NASDAQ:LQDA - Get Free Report) rose 5.8% on Tuesday after BTIG Research raised their price target on the stock from $70.00 to $87.00. BTIG Research currently has a buy rating on the stock. Liquidia traded as high as $50.37 and last traded at $50.6370. Approximately 1,625,205 shares traded hands during trading, a decline of 29% from the average session volume of 2,286,122 shares. The stock had previously closed at $47.87.

Other analysts have also recently issued research reports about the company. Bank of America lifted their price target on Liquidia from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Royal Bank Of Canada set a $65.00 price objective on shares of Liquidia in a research report on Thursday, October 15th. Needham & Company LLC reduced their price target on Liquidia from $72.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, October 14th. HC Wainwright raised their price objective on shares of Liquidia from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company upped their price target on Liquidia from $30.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Liquidia currently has an average rating of "Hold" and a consensus target price of $74.15.

Insider Activity

In related news, CAO Dana Boyle sold 1,581 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $43.19, for a total value of $68,283.39. Following the transaction, the chief accounting officer owned 164,028 shares in the company, valued at approximately $7,084,369.32. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jason Adair sold 688 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $43.19, for a total value of $29,714.72. Following the transaction, the insider owned 177,269 shares in the company, valued at approximately $7,656,248.11. This trade represents a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 566,579 shares of company stock valued at $25,746,120. 25.60% of the stock is currently owned by company insiders.

Key Liquidia News

Here are the key news stories impacting Liquidia this week:

• Positive Sentiment: BTIG Research raised its price target to $87 from $70 and maintained a Buy rating, signaling a more bullish outlook. BTIG Research ratings
• Positive Sentiment: Third-quarter revenue reached $225.3 million, up 314.9% year over year and above analyst estimates of $214.18 million. Adjusted earnings were $0.80 per share, beating the Zacks consensus estimate of $0.77; strong YUTREPIA sales growth helped drive the results. Zacks Q3 earnings report
• Negative Sentiment: Reported GAAP EPS was a loss of $2.64, well below the consensus estimate for a profit, with a $389.7 million charge cited as masking the strong YUTREPIA quarter. The gap between GAAP and adjusted results may leave investors focused on the charge’s nature and its impact on future earnings. 247WallSt Q3 analysis

Institutional Trading of Liquidia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Wealth Planning Services Inc. raised its position in shares of Liquidia by 26.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,557 shares of the company's stock valued at $47,000 after purchasing an additional 323 shares during the period. Globeflex Capital L P bought a new position in Liquidia in the 2nd quarter valued at about $175,000. Nykredit A S acquired a new position in Liquidia during the second quarter valued at approximately $177,000. Sterling Capital Management LLC boosted its stake in Liquidia by 839.1% in the third quarter. Sterling Capital Management LLC now owns 2,329 shares of the company's stock valued at $70,000 after buying an additional 2,081 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Liquidia by 13.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,634 shares of the company's stock valued at $80,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 64.54% of the company's stock.

Liquidia Stock Up 5.8%

The company has a market capitalization of $4.53 billion, a P/E ratio of 36.97, a PEG ratio of 0.41 and a beta of 0.40. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $49.99 and a 200 day moving average price of $54.47.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($2.64) EPS for the quarter, missing the consensus estimate of $0.96 by ($3.60). The company had revenue of $225.30 million for the quarter, compared to analyst estimates of $214.18 million. Liquidia had a return on equity of 149.65% and a net margin of 30.74%. The firm's quarterly revenue was up 314.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, research analysts anticipate that Liquidia Corporation will post 2.05 earnings per share for the current fiscal year.

About Liquidia

Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing treatments for pulmonary hypertension and other serious diseases. Its work includes inhaled therapies designed to deliver medicines to the lungs. The company's marketed product, Yutrepia (treprostinil) inhalation powder, is approved in the United States for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Liquidia also has a pipeline of investigational therapies, including other formulations of treprostinil.

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