HC Wainwright Reiterates Buy Rating for Liquidia (NASDAQ:LQDA)

Liquidia (NASDAQ:LQDA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $29.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 186.00% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Bank of America dropped their target price on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Scotiabank began coverage on shares of Liquidia in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $30.00 target price for the company. Raymond James upgraded shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 19th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Liquidia in a research report on Thursday. Finally, BTIG Research dropped their price objective on Liquidia from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Liquidia Price Performance

Shares of LQDA traded down $0.13 on Thursday, hitting $10.14. The company’s stock had a trading volume of 741,008 shares, compared to its average volume of 979,084. The company has a 50 day moving average price of $10.48 and a 200 day moving average price of $11.52. Liquidia has a fifty-two week low of $6.10 and a fifty-two week high of $16.99. The company has a market capitalization of $778.69 million, a PE ratio of -6.45 and a beta of 0.21.

Insiders Place Their Bets

In related news, insider Rajeev Saggar sold 2,526 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $11.19, for a total value of $28,265.94. Following the sale, the insider now owns 204,857 shares of the company’s stock, valued at $2,292,349.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Liquidia news, insider Rajeev Saggar sold 2,526 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $11.19, for a total transaction of $28,265.94. Following the sale, the insider now owns 204,857 shares of the company’s stock, valued at approximately $2,292,349.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Caligan Partners Lp purchased 150,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $9.51 per share, for a total transaction of $1,426,500.00. Following the acquisition, the director now owns 6,994,997 shares of the company’s stock, valued at approximately $66,522,421.47. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 21,551 shares of company stock valued at $236,021. 30.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Swiss National Bank purchased a new position in Liquidia in the first quarter worth $1,325,000. Sei Investments Co. purchased a new position in shares of Liquidia during the 1st quarter valued at $531,000. Bleakley Financial Group LLC raised its stake in shares of Liquidia by 6.6% during the 1st quarter. Bleakley Financial Group LLC now owns 33,250 shares of the company’s stock valued at $490,000 after purchasing an additional 2,057 shares during the period. Vanguard Group Inc. raised its stake in shares of Liquidia by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,887,274 shares of the company’s stock valued at $42,587,000 after purchasing an additional 43,352 shares during the period. Finally, American International Group Inc. raised its stake in shares of Liquidia by 5.2% during the 1st quarter. American International Group Inc. now owns 24,806 shares of the company’s stock valued at $366,000 after purchasing an additional 1,215 shares during the period. Hedge funds and other 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).