HC Wainwright Reaffirms “Buy” Rating for Liquidia (NASDAQ:LQDA)

Liquidia (NASDAQ:LQDA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $29.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 194.72% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. BTIG Research lowered their price target on Liquidia from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Scotiabank assumed coverage on Liquidia in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $30.00 target price on the stock. Lifesci Capital initiated coverage on shares of Liquidia in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $30.00 price target for the company. Raymond James upgraded shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Liquidia in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Liquidia Stock Performance

Liquidia stock opened at $9.84 on Thursday. The company has a 50 day moving average price of $10.52 and a 200 day moving average price of $11.49. Liquidia has a 52 week low of $6.10 and a 52 week high of $16.99. The firm has a market capitalization of $755.61 million, a price-to-earnings ratio of -6.04 and a beta of 0.21.

Insider Activity at Liquidia

In other Liquidia news, CFO Michael Kaseta sold 3,892 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $11.11, for a total transaction of $43,240.12. Following the transaction, the chief financial officer now owns 311,076 shares in the company, valued at $3,456,054.36. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Caligan Partners Lp acquired 150,000 shares of Liquidia stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $9.51 per share, with a total value of $1,426,500.00. Following the completion of the purchase, the director now directly owns 6,994,997 shares of the company’s stock, valued at $66,522,421.47. The trade was a 2.19 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 21,551 shares of company stock valued at $236,021. Insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Swiss National Bank acquired a new stake in shares of Liquidia in the first quarter valued at about $1,325,000. Sei Investments Co. bought a new position in Liquidia in the 1st quarter worth approximately $531,000. Bleakley Financial Group LLC lifted its holdings in shares of Liquidia by 6.6% during the first quarter. Bleakley Financial Group LLC now owns 33,250 shares of the company’s stock worth $490,000 after buying an additional 2,057 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Liquidia by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,887,274 shares of the company’s stock worth $42,587,000 after buying an additional 43,352 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Liquidia by 5.2% in the first quarter. American International Group Inc. now owns 24,806 shares of the company’s stock valued at $366,000 after acquiring an additional 1,215 shares during the period. Institutional investors own 64.54% of the company’s stock.

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).