Liquidia Technologies (NASDAQ:LQDA) Earns Buy Rating from Wedbush

Wedbush reaffirmed their buy rating on shares of Liquidia Technologies (NASDAQ:LQDA) in a research report released on Friday, June 28th, AnalystRatings.com reports. They currently have a $50.00 target price on the stock.

“We base our $27 price target on a sum-of-the-parts analysis derived from: (1) the P/E value of La Jolla’s current commercial business (Giapreza); (2) an NPV of its pipeline (LJPC-401); and (3) our estimated year-end 2019 fully diluted net cash of $2.03/share to arrive at our price target. We value the current commercial business at $12.94 per share and the pipeline at $11.99 per share. The commercial business value is based on a P/E multiple assumption of 30x our 2024E EPS of $0.75, discounted at 15%.”,” Wedbush’s analyst commented.

Separately, Zacks Investment Research cut shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Liquidia Technologies has a consensus rating of Buy and an average target price of $31.80.

LQDA stock traded up $0.02 during midday trading on Friday, reaching $7.75. 16,956 shares of the company were exchanged, compared to its average volume of 86,465. The company has a debt-to-equity ratio of 0.46, a current ratio of 5.57 and a quick ratio of 5.57. The stock’s 50-day simple moving average is $8.48. Liquidia Technologies has a one year low of $7.21 and a one year high of $38.46. The firm has a market capitalization of $144.11 million and a price-to-earnings ratio of -1.03.

Liquidia Technologies (NASDAQ:LQDA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.87) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.27). Liquidia Technologies had a negative return on equity of 222.47% and a negative net margin of 1,964.76%. On average, research analysts expect that Liquidia Technologies will post -2.56 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of LQDA. Marshall Wace North America L.P. bought a new stake in Liquidia Technologies during the first quarter worth about $1,881,000. Vanguard Group Inc. acquired a new position in Liquidia Technologies during the third quarter worth about $4,263,000. OZ Management LP acquired a new position in Liquidia Technologies during the first quarter worth about $1,138,000. Millennium Management LLC raised its stake in Liquidia Technologies by 91.6% during the fourth quarter. Millennium Management LLC now owns 193,277 shares of the company’s stock worth $4,186,000 after acquiring an additional 92,399 shares in the last quarter. Finally, Canaan Partners VIII LLC raised its stake in Liquidia Technologies by 1.3% during the first quarter. Canaan Partners VIII LLC now owns 2,597,681 shares of the company’s stock worth $29,561,000 after acquiring an additional 34,378 shares in the last quarter. 56.37% of the stock is owned by institutional investors and hedge funds.

About Liquidia Technologies

Liquidia Technologies, Inc, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of human therapeutics. Its lead product candidate, LIQ861, an inhaled dry powder formulation of treprostinil that is in Phase III clinical trials used for the treatment of pulmonary arterial hypertension.

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