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

Liquidia (NASDAQ:LQDA)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $19.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 55.87% from the company’s previous close.

Several other research analysts have also weighed in on the company. Scotiabank initiated coverage on Liquidia in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Liquidia in a report on Thursday, November 14th. Lifesci Capital started coverage on shares of Liquidia in a report on Thursday, October 3rd. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Liquidia in a research note on Friday, December 20th. They set an “overweight” rating and a $20.00 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Liquidia currently has an average rating of “Buy” and an average target price of $25.38.

Liquidia Price Performance

NASDAQ:LQDA opened at $12.19 on Thursday. The company’s 50-day moving average is $11.13 and its two-hundred day moving average is $11.04. Liquidia has a 1-year low of $8.26 and a 1-year high of $16.99. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -7.48 and a beta of 0.23.

Insiders Place Their Bets

In related news, insider Rajeev Saggar sold 2,526 shares of the company’s stock in a transaction that occurred 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 directly owns 204,857 shares in the company, valued at approximately $2,292,349.83. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Kaseta sold 3,892 shares of Liquidia stock in a transaction that occurred on Monday, October 14th. The stock was 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 owns 311,076 shares of the company’s stock, valued at $3,456,054.36. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,007 shares of company stock worth $245,780 over the last 90 days. Corporate insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of Liquidia during the second quarter worth about $27,000. Clear Harbor Asset Management LLC purchased a new position in Liquidia in the 3rd quarter valued at $100,000. Signaturefd LLC increased its stake in Liquidia by 38,400.0% in the 3rd quarter. Signaturefd LLC now owns 10,010 shares of the company’s stock valued at $100,000 after buying an additional 9,984 shares during the period. Ballentine Partners LLC purchased a new position in Liquidia during the 3rd quarter worth $110,000. Finally, Whitcomb & Hess Inc. lifted its stake in shares of Liquidia by 10.2% in the 3rd quarter. Whitcomb & Hess Inc. now owns 11,599 shares of the company’s stock worth $116,000 after acquiring an additional 1,074 shares during the period. 64.54% of the stock is owned by hedge funds and other 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).