Needham & Company LLC Reiterates “Buy” Rating for Liquidia (NASDAQ:LQDA)

Needham & Company LLC restated their buy rating on shares of Liquidia (NASDAQ:LQDA) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $19.00 price target on the stock.

Other research analysts also recently issued reports about the company. BTIG Research dropped their price target on Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Bank of America cut their target price on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Raymond James upgraded shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a report on Monday, August 19th. HC Wainwright dropped their price objective on shares of Liquidia from $32.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, Lifesci Capital initiated coverage on Liquidia in a report on Thursday, October 3rd. They issued an “outperform” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Liquidia Stock Down 1.8 %

Shares of Liquidia stock opened at $9.84 on Thursday. Liquidia has a 52 week low of $6.10 and a 52 week high of $16.99. The stock’s 50-day simple moving average is $10.52 and its 200-day simple moving average is $11.48. The company has a market capitalization of $832.86 million, a price-to-earnings ratio of -6.04 and a beta of 0.21.

Insider Activity

In related news, CFO Michael Kaseta sold 3,892 shares of Liquidia stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $11.11, for a total transaction of $43,240.12. Following the completion of the transaction, the chief financial officer now directly owns 311,076 shares of the company’s stock, valued at approximately $3,456,054.36. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caligan Partners Lp purchased 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $9.51 per share, for a total transaction of $1,426,500.00. Following the completion of the acquisition, the director now directly owns 6,994,997 shares in the company, valued at $66,522,421.47. The trade was a 2.19 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 21,551 shares of company stock worth $236,021. 30.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Liquidia

Several institutional investors have recently added to or reduced their stakes in LQDA. Patient Square Capital LP bought a new position in shares of Liquidia during the first quarter valued at approximately $105,942,000. Farallon Capital Management LLC purchased a new position in Liquidia during the 1st quarter valued at $30,311,000. Whitefort Capital Management LP grew its position in Liquidia by 119.8% in the 3rd quarter. Whitefort Capital Management LP now owns 1,702,025 shares of the company’s stock valued at $17,020,000 after acquiring an additional 927,546 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Liquidia by 144.8% in 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 period. Finally, Anson Funds Management LP bought a new stake in shares of Liquidia during the third quarter worth $1,764,000. 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).