Wells Fargo & Company Initiates Coverage on Liquidia Technologies (NASDAQ:LQDA)

Key Points

• Wells Fargo & Company has initiated coverage on Liquidia Technologies (NASDAQ:LQDA), setting an "overweight" rating with a price target of $31.00, suggesting a potential upside of 37.90%.
• Several analysts have expressed varying opinions on the stock: HC Wainwright maintains a "buy" rating with a target price of $35.00, while Weiss Ratings has a "sell" rating.
• Liquidia Technologies reported a 141.5% year-over-year increase in quarterly revenue, though it missed earnings expectations, posting ($0.49) earnings per share against a consensus estimate of ($0.43).

Equities research analysts at Wells Fargo & Company began coverage on shares of Liquidia Technologies (NASDAQ:LQDA - Get Free Report) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $31.00 price target on the stock. Wells Fargo & Company's price objective suggests a potential upside of 37.90% from the company's current price.

LQDA has been the topic of a number of other research reports. HC Wainwright reaffirmed a "buy" rating and set a $35.00 target price on shares of Liquidia Technologies in a report on Monday, October 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Liquidia Technologies in a research report on Wednesday, October 8th. Needham & Company LLC upped their price objective on shares of Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Jefferies Financial Group began coverage on shares of Liquidia Technologies in a research report on Friday, August 15th. They set a "buy" rating and a $43.00 target price for the company. Finally, Raymond James Financial increased their price target on shares of Liquidia Technologies from $33.00 to $41.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.38.

Liquidia Technologies Price Performance

Shares of NASDAQ LQDA opened at $22.48 on Monday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -13.22 and a beta of 0.15. The stock has a fifty day simple moving average of $25.17 and a two-hundred day simple moving average of $18.68. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84. Liquidia Technologies has a 1-year low of $9.71 and a 1-year high of $29.94.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.06). The firm had revenue of $8.84 million during the quarter, compared to analysts' expectations of $3.90 million. Liquidia Technologies had a negative return on equity of 232.96% and a negative net margin of 732.17%.Liquidia Technologies's quarterly revenue was up 141.5% on a year-over-year basis. Analysts anticipate that Liquidia Technologies will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Liquidia Technologies

In other Liquidia Technologies news, CFO Michael Kaseta sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 376,412 shares in the company, valued at approximately $7,528,240. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Roger Jeffs sold 20,261 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $23.41, for a total transaction of $474,310.01. Following the completion of the transaction, the chief executive officer owned 1,032,973 shares in the company, valued at $24,181,897.93. This represents a 1.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 878,893 shares of company stock worth $24,174,090 over the last quarter. Company insiders own 30.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. lifted its holdings in Liquidia Technologies by 9.5% in the 2nd quarter. Opaleye Management Inc. now owns 2,475,000 shares of the company's stock worth $30,838,000 after buying an additional 215,000 shares during the period. Geode Capital Management LLC lifted its stake in Liquidia Technologies by 2.4% in the second quarter. Geode Capital Management LLC now owns 1,405,747 shares of the company's stock worth $17,517,000 after acquiring an additional 32,499 shares during the period. Tyro Capital Management LLC bought a new stake in Liquidia Technologies in the second quarter valued at $15,473,000. CenterBook Partners LP raised its holdings in Liquidia Technologies by 811.7% in the 2nd quarter. CenterBook Partners LP now owns 1,103,850 shares of the company's stock worth $13,754,000 after purchasing an additional 982,778 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Liquidia Technologies by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 861,231 shares of the company's stock valued at $12,703,000 after purchasing an additional 82,955 shares in the last quarter. Hedge funds and other 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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