Liquidia (NASDAQ:LQDA) Hits New 12-Month High – Here’s Why

Shares of Liquidia Corporation (NASDAQ:LQDA) reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.27 and last traded at $33.42, with a volume of 484614 shares traded. The stock had previously closed at $30.79.

Analyst Ratings Changes

A number of brokerages have weighed in on LQDA. Jefferies Financial Group reissued a “buy” rating and set a $45.00 price target on shares of Liquidia in a research note on Monday, November 3rd. Needham & Company LLC lifted their price target on Liquidia from $36.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company began coverage on shares of Liquidia in a report on Monday, October 20th. They set an “overweight” rating and a $31.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Liquidia in a research report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on shares of Liquidia from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.56.

Liquidia Price Performance

The company has a debt-to-equity ratio of 6.19, a current ratio of 2.20 and a quick ratio of 1.96. The company has a market cap of $2.99 billion, a PE ratio of -23.90 and a beta of 0.48. The company has a 50-day moving average price of $26.04 and a two-hundred day moving average price of $21.73.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.41. The firm had revenue of $54.34 million for the quarter, compared to analyst estimates of $18.86 million. Liquidia had a negative return on equity of 296.78% and a negative net margin of 176.04%.The firm’s revenue for the quarter was up 1106.7% compared to the same quarter last year. Sell-side analysts expect that Liquidia Corporation will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Raman Singh sold 45,524 shares of Liquidia stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $25.81, for a total transaction of $1,174,974.44. Following the sale, the director directly owned 31,255 shares of the company’s stock, valued at approximately $806,691.55. The trade was a 59.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Kaseta sold 11,630 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $23.41, for a total value of $272,258.30. Following the sale, the chief financial officer owned 352,646 shares of the company’s stock, valued at approximately $8,255,442.86. This trade represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 215,168 shares of company stock worth $5,675,425 over the last quarter. Company insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Farallon Capital Management LLC grew its position in shares of Liquidia by 102.1% in the 3rd quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company’s stock worth $194,783,000 after acquiring an additional 4,326,876 shares in the last quarter. TCG Crossover Management LLC bought a new position in shares of Liquidia during the third quarter worth about $38,887,000. Caprock Group LLC bought a new position in Liquidia in the 3rd quarter worth about $37,114,000. Tyro Capital Management LLC bought a new stake in shares of Liquidia during the second quarter valued at approximately $15,473,000. Finally, CenterBook Partners LP boosted its position in Liquidia by 811.7% during the 2nd quarter. CenterBook Partners LP now owns 1,103,850 shares of the company’s stock worth $13,754,000 after acquiring an additional 982,778 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).