Needham & Company LLC Forecasts Strong Price Appreciation for Liquidia (NASDAQ:LQDA) Stock

Liquidia (NASDAQ:LQDA) had its price target raised by Needham & Company LLC from $19.00 to $25.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

LQDA has been the subject of several other research reports. Wells Fargo & Company initiated coverage on Liquidia in a report on Friday, December 20th. They issued an “overweight” rating and a $20.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Liquidia in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently 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 stock has a market capitalization of $1.28 billion, a PE 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 business has a 50-day moving average of $14.79 and a 200 day moving average of $12.20.

Liquidia (NASDAQ:LQDA) last released 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). Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. The business had revenue of $2.92 million during the quarter, compared to analysts’ expectations of $4.60 million. Analysts anticipate that Liquidia will post -1.51 EPS for the current year.

Insider Activity

In other news, CEO Roger Jeffs sold 22,343 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $11.78, for a total value of $263,200.54. Following the completion of the transaction, the chief executive officer now owns 1,019,177 shares in the company, valued at $12,005,905.06. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rajeev Saggar sold 2,445 shares of Liquidia stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.00, for a total value of $31,785.00. Following the transaction, the insider now owns 267,943 shares of the company’s stock, valued at $3,483,259. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,245 shares of company stock worth $843,326 in the last quarter. 30.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Corebridge Financial Inc. raised its stake in Liquidia by 2.3% during the fourth quarter. Corebridge Financial Inc. now owns 31,516 shares of the company’s stock valued at $371,000 after buying an additional 694 shares during the last quarter. Catalina Capital Group LLC raised its stake in Liquidia by 6.5% during the fourth quarter. Catalina Capital Group LLC now owns 18,307 shares of the company’s stock valued at $215,000 after buying an additional 1,125 shares during the last quarter. Cetera Investment Advisers raised its stake in Liquidia by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 31,243 shares of the company’s stock valued at $367,000 after buying an additional 1,277 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Liquidia by 35.0% during 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 last quarter. Finally, Sigma Planning Corp raised its stake in Liquidia by 3.4% during the fourth quarter. Sigma Planning Corp now owns 65,210 shares of the company’s stock valued at $767,000 after buying an additional 2,115 shares during the last quarter. Hedge funds and other 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).