Insider Selling: Liquidia (NASDAQ:LQDA) Director Sells $5,375,357.92 in Stock

Liquidia Corporation (NASDAQ:LQDA) Director Stephen Bloch sold 82,736 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $64.97, for a total value of $5,375,357.92. Following the sale, the director directly owned 1,787,306 shares in the company, valued at approximately $116,121,270.82. The trade was a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Liquidia Price Performance

Shares of LQDA stock opened at $65.25 on Thursday. Liquidia Corporation has a 1-year low of $11.85 and a 1-year high of $66.78. The stock’s 50-day moving average is $48.50 and its 200 day moving average is $40.37. The company has a market cap of $5.80 billion, a P/E ratio of 466.10 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.22 and a quick ratio of 2.03.

Liquidia (NASDAQ:LQDA) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. The business had revenue of $132.87 million during the quarter, compared to the consensus estimate of $119.44 million. Liquidia had a return on equity of 46.82% and a net margin of 7.74%.The business’s quarterly revenue was up 4187.1% on a year-over-year basis. Research analysts predict that Liquidia Corporation will post 2.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Liquidia in the fourth quarter worth about $25,000. Covestor Ltd raised its stake in shares of Liquidia by 41.9% in the fourth quarter. Covestor Ltd now owns 1,216 shares of the company’s stock worth $42,000 after purchasing an additional 359 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Liquidia in the third quarter worth about $30,000. FNY Investment Advisers LLC purchased a new position in shares of Liquidia in the third quarter worth about $34,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Liquidia in the second quarter worth about $25,000. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $60.00 price target on shares of Liquidia in a report on Monday, May 11th. Wells Fargo & Company raised their price target on Liquidia from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Needham & Company LLC raised their price target on Liquidia from $54.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Oppenheimer set a $75.00 price target on Liquidia in a report on Friday, June 5th. Finally, Lifesci Capital raised Liquidia to a “strong-buy” rating in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Liquidia currently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

About Liquidia

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company’s lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).