Bank of America Lowers Liquidia (NASDAQ:LQDA) Price Target to $23.00

Liquidia (NASDAQ:LQDA) had its price target decreased by Bank of America from $24.00 to $23.00 in a report released on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts have also commented on LQDA. HC Wainwright reissued a buy rating and issued a $32.00 price objective on shares of Liquidia in a report on Wednesday, July 10th. Needham & Company LLC reaffirmed a buy rating and issued a $25.00 price target on shares of Liquidia in a research note on Monday, August 19th. BTIG Research lowered their price target on Liquidia from $29.00 to $25.00 and set a buy rating on the stock in a research note on Monday, August 19th. Oppenheimer began coverage on Liquidia in a research note on Tuesday, June 25th. They issued a market perform rating on the stock. Finally, Raymond James raised Liquidia from an outperform rating to a strong-buy rating 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, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $23.14.

Liquidia Trading Up 3.5 %

Shares of LQDA opened at $9.97 on Tuesday. Liquidia has a 12 month low of $5.71 and a 12 month high of $16.99. The stock’s 50 day moving average is $11.86 and its two-hundred day moving average is $13.22. The firm has a market cap of $761.85 million, a P/E ratio of -6.39 and a beta of 0.32.

Insiders Place Their Bets

In other Liquidia news, CFO Michael Kaseta sold 3,906 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $12.53, for a total transaction of $48,942.18. Following the transaction, the chief financial officer now owns 312,389 shares of the company’s stock, valued at $3,914,234.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Roger Jeffs sold 8,053 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $12.53, for a total transaction of $100,904.09. Following the completion of the transaction, the chief executive officer now directly owns 818,932 shares of the company’s stock, valued at approximately $10,261,217.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Kaseta sold 3,906 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $12.53, for a total value of $48,942.18. Following the transaction, the chief financial officer now directly owns 312,389 shares of the company’s stock, valued at $3,914,234.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,437 shares of company stock valued at $268,549. Insiders own 31.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in Liquidia by 25.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,706 shares of the company’s stock worth $272,000 after purchasing an additional 4,572 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Liquidia by 53.4% during the 2nd quarter. Squarepoint Ops LLC now owns 82,272 shares of the company’s stock worth $987,000 after acquiring an additional 28,638 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Liquidia during the 2nd quarter worth about $545,000. HighVista Strategies LLC acquired a new position in shares of Liquidia during the 2nd quarter worth about $1,461,000. Finally, Profund Advisors LLC boosted its position in shares of Liquidia by 31.6% during the 2nd quarter. Profund Advisors LLC now owns 14,434 shares of the company’s stock worth $173,000 after acquiring an additional 3,466 shares in the last quarter. 64.54% of the stock is owned by institutional investors and hedge funds.

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).