Liquidia (NASDAQ:LQDA) Price Target Raised to $34.00 at Scotiabank

Liquidia (NASDAQ:LQDA) had its price target raised by Scotiabank from $30.00 to $34.00 in a report released on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other research firms have also commented on LQDA. Wells Fargo & Company initiated coverage on shares of Liquidia in a report on Friday, December 20th. They issued an “overweight” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of Liquidia in a report on Thursday. Finally, Needham & Company LLC lifted their price target on shares of Liquidia from $19.00 to $25.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $26.63.

Liquidia Price Performance

Shares of LQDA stock opened at $15.12 on Thursday. The firm has a market cap of $1.28 billion, a P/E ratio of -9.28 and a beta of 0.07. Liquidia has a 1-year low of $8.26 and a 1-year high of $16.92. The firm has a fifty day moving average of $14.79 and a two-hundred day moving average of $12.20.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The company 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%. On average, sell-side analysts expect that Liquidia will post -1.51 EPS for the current year.

Insider Transactions at Liquidia

In related news, CEO Roger Jeffs sold 22,343 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total value of $263,200.54. Following the completion of the sale, the chief executive officer now owns 1,019,177 shares of the company’s stock, valued at $12,005,905.06. This represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Kaseta sold 23,370 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total transaction of $275,298.60. Following the completion of the transaction, the chief financial officer now owns 401,755 shares of the company’s stock, valued at $4,732,673.90. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,245 shares of company stock worth $843,326. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Liquidia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LQDA. Steward Partners Investment Advisory LLC bought a new position in Liquidia during the 4th quarter valued at $59,000. Summit Investment Advisors Inc. lifted its holdings in shares of Liquidia by 35.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock valued at $78,000 after buying an additional 1,719 shares during the period. Walleye Trading LLC boosted its stake in Liquidia by 54.7% during the third quarter. Walleye Trading LLC now owns 13,201 shares of the company’s stock valued at $132,000 after buying an additional 4,670 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Liquidia during the fourth quarter worth about $142,000. Finally, EntryPoint Capital LLC bought a new stake in Liquidia in the fourth quarter worth about $154,000. Institutional investors own 64.54% of the company’s stock.

About Liquidia

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).