Liquidia (NASDAQ:LQDA) Stock Price Expected to Rise, Scotiabank Analyst Says

Liquidia (NASDAQ:LQDA) had its price objective boosted by Scotiabank from $30.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 123.54% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Needham & Company LLC upped their price target on Liquidia from $19.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of Liquidia in a research report on Thursday. Finally, Wells Fargo & Company began coverage on Liquidia in a research report on Friday, December 20th. They set an “overweight” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Liquidia presently has an average rating of “Buy” and an average price target of $26.63.

Liquidia Stock Performance

Liquidia stock traded up $0.29 during mid-day trading on Thursday, reaching $15.21. 364,553 shares of the company were exchanged, compared to its average volume of 927,715. The business has a fifty day moving average of $14.67 and a 200 day moving average of $12.12. The firm has a market cap of $1.29 billion, a P/E ratio of -9.32 and a beta of 0.07. Liquidia has a 12-month low of $8.26 and a 12-month high of $16.99.

Liquidia (NASDAQ:LQDA) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $4.60 million. Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. Sell-side analysts predict that Liquidia will post -1.51 EPS for the current year.

Insider Activity at Liquidia

In other Liquidia news, CFO Michael Kaseta sold 23,370 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $11.78, for a total transaction of $275,298.60. Following the sale, the chief financial officer now directly owns 401,755 shares of the company’s stock, valued at approximately $4,732,673.90. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajeev Saggar sold 2,445 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.00, for a total value of $31,785.00. Following the sale, the insider now directly owns 267,943 shares in the company, valued at $3,483,259. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,245 shares of company stock valued at $843,326 in the last ninety days. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Liquidia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Liquidia during the 4th quarter worth about $59,000. Summit Investment Advisors Inc. boosted its stake in shares of Liquidia by 35.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock worth $78,000 after acquiring an additional 1,719 shares in the last quarter. Walleye Trading LLC boosted its stake in shares of Liquidia by 54.7% during the 3rd quarter. Walleye Trading LLC now owns 13,201 shares of the company’s stock worth $132,000 after acquiring an additional 4,670 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Liquidia during the 4th quarter worth about $142,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of 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).