Oppenheimer Begins Coverage on Liquidia (NASDAQ:LQDA)

Oppenheimer initiated coverage on shares of Liquidia (NASDAQ:LQDA) in a research note released on Tuesday, Marketbeat reports. The brokerage issued a market perform rating on the stock.

Several other analysts have also recently weighed in on LQDA. Needham & Company LLC restated a buy rating and set a $28.00 price target on shares of Liquidia in a report on Monday, June 3rd. HC Wainwright reissued a buy rating and set a $32.00 target price on shares of Liquidia in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $21.00.

Liquidia Price Performance

Shares of NASDAQ:LQDA opened at $12.00 on Tuesday. The firm has a 50 day simple moving average of $12.84 and a 200 day simple moving average of $13.20. The company has a market cap of $916.20 million, a price-to-earnings ratio of -7.69 and a beta of 0.25. Liquidia has a one year low of $5.71 and a one year high of $16.99.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.22). The firm had revenue of $2.97 million during the quarter, compared to the consensus estimate of $4.31 million. Liquidia had a negative net margin of 674.42% and a negative return on equity of 177.83%. As a group, analysts expect that Liquidia will post -1.32 EPS for the current year.

Insider Transactions at Liquidia

In related news, CFO Michael Kaseta sold 3,136 shares of Liquidia stock in a transaction on Friday, April 12th. The shares were sold at an average price of $14.58, for a total transaction of $45,722.88. Following the completion of the transaction, the chief financial officer now owns 315,045 shares of the company’s stock, valued at $4,593,356.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Russell Schundler sold 2,060 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $14.58, for a total transaction of $30,034.80. Following the completion of the sale, the general counsel now owns 486,027 shares of the company’s stock, valued at approximately $7,086,273.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Kaseta sold 3,136 shares of Liquidia stock in a transaction on Friday, April 12th. The shares were sold at an average price of $14.58, for a total transaction of $45,722.88. Following the completion of the sale, the chief financial officer now owns 315,045 shares of the company’s stock, valued at approximately $4,593,356.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,653 shares of company stock worth $270,409. Company insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Liquidia

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners bought a new position in shares of Liquidia during the 1st quarter worth about $762,000. Farallon Capital Management LLC acquired a new stake in Liquidia in the first quarter valued at approximately $30,311,000. Whitefort Capital Management LP increased its holdings in shares of Liquidia by 45.8% during the first quarter. Whitefort Capital Management LP now owns 337,607 shares of the company’s stock valued at $4,980,000 after acquiring an additional 106,049 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Liquidia by 491.2% during the first quarter. California State Teachers Retirement System now owns 46,181 shares of the company’s stock worth $681,000 after purchasing an additional 38,369 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Liquidia in the 1st quarter worth $502,000. 64.54% of the stock is owned by 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).