Liquidia (NASDAQ:LQDA) Earns Sector Outperform Rating from Analysts at Scotiabank

Analysts at Scotiabank assumed coverage on shares of Liquidia (NASDAQ:LQDA) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “sector outperform” rating and a $30.00 price target on the stock. Scotiabank’s price objective points to a potential upside of 161.78% from the stock’s previous close.

LQDA has been the topic of a number of other reports. HC Wainwright cut their price target on Liquidia from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Liquidia in a report on Monday, August 19th. Oppenheimer started coverage on Liquidia in a report on Tuesday, June 25th. They set a “market perform” rating on the stock. Raymond James upgraded Liquidia from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 19th. Finally, Bank of America cut their target price on Liquidia from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Liquidia Price Performance

Shares of LQDA stock opened at $11.46 on Wednesday. The stock has a market capitalization of $875.70 million, a PE ratio of -7.35 and a beta of 0.22. Liquidia has a one year low of $5.71 and a one year high of $16.99. The business’s 50 day simple moving average is $10.42 and its 200 day simple moving average is $11.97.

Liquidia (NASDAQ:LQDA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $3.66 million for the quarter, compared to the consensus estimate of $7.92 million. Liquidia had a negative return on equity of 183.57% and a negative net margin of 755.46%. As a group, research analysts expect that Liquidia will post -1.69 earnings per share for the current year.

Insider Activity at Liquidia

In related news, General Counsel Russell Schundler sold 2,576 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $11.11, for a total value of $28,619.36. Following the completion of the sale, the general counsel now directly owns 486,048 shares of the company’s stock, valued at approximately $5,399,993.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Russell Schundler sold 2,576 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $11.11, for a total value of $28,619.36. Following the completion of the sale, the general counsel now directly owns 486,048 shares of the company’s stock, valued at approximately $5,399,993.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rajeev Saggar sold 2,260 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $11.11, for a total value of $25,108.60. Following the completion of the sale, the insider now directly owns 207,383 shares of the company’s stock, valued at $2,304,025.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,858 shares of company stock valued at $228,724. 31.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Liquidia

Large investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Liquidia during the 2nd quarter valued at $27,000. Hilltop National Bank purchased a new stake in shares of Liquidia during the 2nd quarter valued at $33,000. Deuterium Capital Management LLC purchased a new stake in shares of Liquidia during the 2nd quarter valued at $120,000. DMC Group LLC purchased a new stake in shares of Liquidia during the 2nd quarter valued at $122,000. Finally, Whitcomb & Hess Inc. purchased a new stake in shares of Liquidia during the 2nd quarter valued at $126,000. 64.54% of the stock is owned by hedge funds and other institutional investors.

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).