Liquidia (NASDAQ:LQDA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Liquidia (NASDAQ:LQDA) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Liquidia Technologies, Inc. is a late-stage clinical biopharmaceutical company. It focused on the development and commercialization of human therapeutics using our proprietary PRINT technology to transform the lives of patients. The company’s product candidate consists of LIQ861 for the treatment of pulmonary arterial hypertension and LIQ865 for the treatment of local post-operative pain which are in clinical stage. Liquidia Technologies, Inc. is based in NC, United States. “

Other equities analysts have also recently issued reports about the company. Needham & Company LLC decreased their target price on Liquidia from $6.00 to $5.00 and set a buy rating on the stock in a report on Monday, March 29th. HC Wainwright restated a buy rating and issued a $6.00 target price on shares of Liquidia in a report on Wednesday, March 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Liquidia presently has an average rating of Buy and an average target price of $11.60.

Shares of LQDA stock opened at $2.83 on Tuesday. Liquidia has a 1 year low of $2.34 and a 1 year high of $12.10. The stock has a market cap of $122.64 million, a PE ratio of -1.33 and a beta of 0.05. The business’s fifty day moving average is $2.70 and its 200-day moving average is $3.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 5.67 and a current ratio of 5.67.

Liquidia (NASDAQ:LQDA) last issued its quarterly earnings results on Monday, March 22nd. The company reported ($0.38) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.38). The firm had revenue of $0.74 million for the quarter. Equities research analysts predict that Liquidia will post -1.73 earnings per share for the current year.

In related news, Director Paul B. Manning purchased 198,413 shares of Liquidia stock in a transaction on Tuesday, April 13th. The stock was bought at an average price of $2.52 per share, with a total value of $500,000.76. Following the completion of the transaction, the director now directly owns 111,706 shares of the company’s stock, valued at $281,499.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Eshelman Ventures, Llc sold 719,287 shares of the business’s stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $2.97, for a total value of $2,136,282.39. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. ExodusPoint Capital Management LP acquired a new stake in shares of Liquidia in the fourth quarter worth about $37,000. Ikarian Capital LLC acquired a new position in shares of Liquidia during the 4th quarter worth about $2,807,000. Northern Trust Corp lifted its position in shares of Liquidia by 2.3% during the 4th quarter. Northern Trust Corp now owns 306,694 shares of the company’s stock worth $905,000 after purchasing an additional 6,911 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Liquidia by 41.5% during the 4th quarter. Wells Fargo & Company MN now owns 52,505 shares of the company’s stock worth $154,000 after purchasing an additional 15,394 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Liquidia by 20.0% during the 4th quarter. Bank of New York Mellon Corp now owns 86,091 shares of the company’s stock worth $254,000 after purchasing an additional 14,374 shares during the last quarter. 36.49% of the stock is owned by institutional investors.

Liquidia Company Profile

Liquidia Corp. operates as a holding company which through its subsidiary engages in developing and commercializing biopharmaceutical products. It engages in novel products development used in PRINT technology to transform the lives of patients. PRINT is a particle engineering platform that enables precise production of uniform drug particles designed to improve the safety, efficacy and performance of a wide range of therapies.

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