Liquidia (NASDAQ:LQDA) Announces Quarterly Earnings Results

Liquidia (NASDAQ:LQDA) announced its earnings results on Tuesday. The company reported ($2.64) EPS for the quarter, missing the consensus estimate of $0.96 by ($3.60), FiscalAI reports. Liquidia had a return on equity of 149.65% and a net margin of 30.74%. The company had revenue of $225.30 million for the quarter, compared to analyst estimates of $214.18 million. During the same quarter last year, the business posted ($0.04) earnings per share. The business’s quarterly revenue was up 314.9% on a year-over-year basis.

Here are the key takeaways from Liquidia’s conference call:

• YUTREPIA continued its strong launch growth: third-quarter net product sales rose 31% sequentially to $222.7 million, and adjusted EBITDA reached $140.5 million, its fifth consecutive quarterly increase. The company said more than 70% of September prescriptions included a PAH diagnosis and October shipments were the highest since launch.
• The settlement ended the litigation overhang and, according to Liquidia, requires no switch for existing PH-ILD patients; the company reported no changes to payer formularies or coverage. Liquidia said it has no ongoing royalty or payment obligations to United Therapeutics after its final settlement payment in April 2027.
• Management said litigation-related uncertainty briefly slowed referrals at some centers: October’s daily referral rate was more than 75% of Q3’s rate. Liquidia expects referrals to recover but said it wants more data before providing 2027 revenue guidance, which it expects to address in early January.
• Liquidia reported a substantial cash balance and said it can fund its plans without raising capital: cash and equivalents were $396.1 million at quarter-end before settlement payments. The GAAP net loss of $236.3 million included a one-time $389.7 million settlement charge, with $380.7 million payable in cash through April 2027.
• The company outlined a broad development agenda, including a PH-ILD pivotal study for L606 expected to complete enrollment in 2028, with data intended to support an NDA submission in 2029; a PAH pivotal study is planned for 2027. It also expects to complete its YUTREPIA Raynaud’s dose-finding study in the first half of 2027 and plans a PH-COPD pivotal study in the second half of 2027.

Liquidia Stock Down 1.0%

NASDAQ:LQDA traded down $0.49 during trading hours on Tuesday, reaching $47.38. 987,698 shares of the stock were exchanged, compared to its average volume of 2,282,903. Liquidia has a twelve month low of $22.31 and a twelve month high of $93.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 2.12. The firm has a 50 day moving average of $49.99 and a 200 day moving average of $54.47. The stock has a market cap of $4.24 billion, a PE ratio of 34.58, a PEG ratio of 0.41 and a beta of 0.40.

Insider Buying and Selling

In other news, insider Rajeev Saggar sold 9,218 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $28.48, for a total value of $262,528.64. Following the sale, the insider owned 126,368 shares of the company’s stock, valued at $3,598,960.64. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jason Adair sold 688 shares of the business’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $43.19, for a total transaction of $29,714.72. Following the completion of the sale, the insider directly owned 177,269 shares in the company, valued at approximately $7,656,248.11. This represents a 0.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 566,579 shares of company stock valued at $25,746,120 over the last ninety days. Insiders own 25.60% of the company’s stock.

Wall Street Analyst Weigh In

LQDA has been the subject of several research analyst reports. Wedbush set a $58.00 price target on shares of Liquidia in a report on Friday, October 2nd. Stephens set a $130.00 price objective on shares of Liquidia in a report on Friday, July 24th. Weiss Ratings raised shares of Liquidia from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Lifesci Capital raised shares of Liquidia from a “hold” rating to an “outperform” rating and set a $59.00 target price for the company in a research note on Wednesday, October 14th. Finally, Jefferies Financial Group raised shares of Liquidia to a “strong-buy” rating in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Liquidia currently has a consensus rating of “Hold” and an average price target of $72.85.

Liquidia Company Profile

Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing treatments for pulmonary hypertension and other serious diseases. Its work includes inhaled therapies designed to deliver medicines to the lungs.

The company’s marketed product, Yutrepia (treprostinil) inhalation powder, is approved in the United States for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Liquidia also has a pipeline of investigational therapies, including other formulations of treprostinil.

Liquidia was founded in 2004 and uses its PRINT particle-engineering technology in drug development.