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 research report sent to investors on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

LQDA has been the subject of several other research reports. Wells Fargo & Company began coverage on Liquidia in a research note on Friday, December 20th. They issued an “overweight” rating and a $20.00 price objective for the company. Needham & Company LLC lifted their price objective on Liquidia from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Liquidia in a research note on Thursday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Liquidia has an average rating of “Buy” and a consensus price target of $26.63.

Liquidia Price Performance

Shares of Liquidia stock opened at $15.44 on Thursday. The business has a 50-day moving average of $14.73 and a 200 day moving average of $12.14. Liquidia has a 12 month low of $8.26 and a 12 month high of $16.99. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -9.47 and a beta of 0.07.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The company had revenue of $2.92 million during the quarter, compared to analysts’ expectations of $4.60 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. Equities research analysts anticipate that Liquidia will post -1.51 earnings per share for the current year.

Insider Transactions at Liquidia

In other Liquidia news, General Counsel Russell Schundler sold 16,393 shares of Liquidia stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $11.78, for a total transaction of $193,109.54. Following the transaction, the general counsel now owns 573,478 shares of the company’s stock, valued at $6,755,570.84. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Rajeev Saggar sold 2,445 shares of Liquidia stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $13.00, for a total value of $31,785.00. Following the transaction, the insider now directly owns 267,943 shares in the company, valued at approximately $3,483,259. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,245 shares of company stock valued at $843,326. Corporate insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Liquidia by 735.1% during the third quarter. BNP Paribas Financial Markets now owns 140,190 shares of the company’s stock worth $1,402,000 after buying an additional 123,402 shares during the period. Barclays PLC increased its holdings in shares of Liquidia by 265.0% in the third quarter. Barclays PLC now owns 99,984 shares of the company’s stock valued at $999,000 after purchasing an additional 72,591 shares during the period. Whitefort Capital Management LP increased its holdings in shares of Liquidia by 119.8% in the third quarter. Whitefort Capital Management LP now owns 1,702,025 shares of the company’s stock valued at $17,020,000 after purchasing an additional 927,546 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Liquidia by 855.3% during the third quarter. JPMorgan Chase & Co. now owns 235,393 shares of the company’s stock worth $2,354,000 after purchasing an additional 210,753 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Liquidia by 144.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 390,257 shares of the company’s stock worth $3,903,000 after purchasing an additional 230,820 shares during the last quarter. Institutional investors and hedge funds 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).