Bank of America Has Lowered Expectations for Liquidia (NASDAQ:LQDA) Stock Price

Liquidia (NASDAQ:LQDA) had its target price decreased by Bank of America from $25.00 to $23.00 in a report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

LQDA has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on shares of Liquidia from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. HC Wainwright lifted their target price on shares of Liquidia from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Wall Street Zen raised shares of Liquidia from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Liquidia in a report on Monday, June 2nd. Finally, BTIG Research reaffirmed a “buy” rating on shares of Liquidia in a report on Tuesday, May 27th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Liquidia currently has an average rating of “Moderate Buy” and an average price target of $26.89.

Liquidia Stock Down 2.4%

Shares of LQDA opened at $14.10 on Wednesday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -8.65 and a beta of 0.04. Liquidia has a 12 month low of $8.26 and a 12 month high of $19.41. The company has a 50-day moving average price of $15.16 and a two-hundred day moving average price of $14.13.

Liquidia (NASDAQ:LQDA) last posted its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. The firm had revenue of $3.12 million during the quarter, compared to the consensus estimate of $3.23 million. Equities research analysts expect that Liquidia will post -1.51 EPS for the current fiscal year.

Insider Transactions at Liquidia

In related news, General Counsel Russell Schundler sold 5,964 shares of Liquidia stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $80,931.48. Following the transaction, the general counsel now directly owns 570,301 shares of the company’s stock, valued at $7,738,984.57. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Adair sold 1,856 shares of Liquidia stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $25,185.92. Following the completion of the transaction, the insider now directly owns 184,304 shares in the company, valued at $2,501,005.28. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,138 shares of company stock valued at $450,233. 26.50% of the stock is currently owned by company insiders.

Institutional Trading of Liquidia

A number of hedge funds have recently added to or reduced their stakes in LQDA. Rhumbline Advisers lifted its holdings in shares of Liquidia by 3.5% during the fourth quarter. Rhumbline Advisers now owns 80,652 shares of the company’s stock worth $948,000 after purchasing an additional 2,741 shares during the period. Sigma Planning Corp lifted its holdings in shares of Liquidia by 3.4% during the fourth quarter. Sigma Planning Corp now owns 65,210 shares of the company’s stock worth $767,000 after purchasing an additional 2,115 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Liquidia by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 188,584 shares of the company’s stock worth $2,218,000 after purchasing an additional 6,034 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Liquidia during the fourth quarter worth $59,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Liquidia by 9.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 428,570 shares of the company’s stock worth $5,040,000 after purchasing an additional 38,313 shares during the period. Institutional investors and hedge funds 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).