Liquidia (NASDAQ:LQDA) Hits New 52-Week High on Analyst Upgrade
Liquidia Co. (NASDAQ:LQDA – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday after Bank of America raised their price target on the stock from $13.00 to $15.00. Bank of America currently has a buy rating on the stock. Liquidia traded as high as $11.59 and last traded at $11.23, with a volume of 2236637 shares traded. The stock had previously closed at $10.70.
A number of other brokerages have also issued reports on LQDA. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Liquidia in a research report on Wednesday, November 8th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of Liquidia in a report on Thursday.
Check Out Our Latest Stock Report on LQDA
Insider Activity
In other news, CEO Roger Jeffs purchased 139,665 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was bought at an average cost of $7.16 per share, for a total transaction of $1,000,001.40. Following the completion of the acquisition, the chief executive officer now directly owns 640,805 shares of the company’s stock, valued at $4,588,163.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Liquidia news, CEO Roger Jeffs purchased 139,665 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average price of $7.16 per share, for a total transaction of $1,000,001.40. Following the completion of the purchase, the chief executive officer now directly owns 640,805 shares of the company’s stock, valued at $4,588,163.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Caligan Partners Lp purchased 1,117,318 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was bought at an average cost of $7.16 per share, for a total transaction of $7,999,996.88. Following the purchase, the director now owns 11,280,945 shares in the company, valued at $80,771,566.20. The disclosure for this purchase can be found here. Insiders own 31.60% of the company’s stock.
Institutional Investors Weigh In On Liquidia
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. acquired a new position in shares of Liquidia during the first quarter valued at $592,000. BlackRock Inc. boosted its stake in shares of Liquidia by 0.4% in the 1st quarter. BlackRock Inc. now owns 846,385 shares of the company’s stock valued at $6,077,000 after purchasing an additional 3,042 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Liquidia by 56.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 74,307 shares of the company’s stock worth $534,000 after buying an additional 26,908 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Liquidia during the first quarter worth approximately $86,000. Finally, Vanguard Group Inc. lifted its holdings in Liquidia by 2.9% in the first quarter. Vanguard Group Inc. now owns 1,659,082 shares of the company’s stock valued at $11,912,000 after buying an additional 47,161 shares during the period. Institutional investors and hedge funds own 45.03% of the company’s stock.
Liquidia Price Performance
The business’s 50 day simple moving average is $6.75 and its 200-day simple moving average is $7.21. The stock has a market capitalization of $728.83 million, a P/E ratio of -13.08 and a beta of -0.08.
Liquidia (NASDAQ:LQDA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The firm had revenue of $3.68 million for the quarter, compared to analyst estimates of $4.55 million. Liquidia had a negative net margin of 314.38% and a negative return on equity of 82.05%. Research analysts anticipate that Liquidia Co. will post -1.03 earnings per share for the current fiscal year.
Liquidia Company Profile (Get Free Report)
Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for unmet patient needs in the United States. Its product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension.
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Original: MarketBeat News Feed: Liquidia (NASDAQ:LQDA) Hits New 52-Week High on Analyst Upgrade