Liquidia (NASDAQ:LQDA) Now Covered by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company started coverage on shares of Liquidia (NASDAQ:LQDA) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $20.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 88.86% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on LQDA. Scotiabank initiated coverage on shares of Liquidia in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $30.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Liquidia in a research report on Thursday, November 14th. Lifesci Capital assumed coverage on shares of Liquidia in a report on Thursday, October 3rd. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of Liquidia in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.60.

Liquidia Price Performance

NASDAQ LQDA opened at $10.59 on Friday. The stock’s 50 day simple moving average is $10.91 and its 200-day simple moving average is $11.20. The company has a market cap of $896.31 million, a PE ratio of -6.50 and a beta of 0.22. Liquidia has a 1-year low of $7.76 and a 1-year high of $16.99.

Insider Buying and Selling

In other news, CEO Roger Jeffs sold 8,053 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $11.11, for a total value of $89,468.83. Following the sale, the chief executive officer now directly owns 812,193 shares of the company’s stock, valued at approximately $9,023,464.23. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Kaseta sold 3,892 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $11.11, for a total transaction of $43,240.12. Following the transaction, the chief financial officer now directly owns 311,076 shares of the company’s stock, valued at $3,456,054.36. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,007 shares of company stock worth $245,780. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Liquidia

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Liquidia by 18.2% in the second quarter. Bank of New York Mellon Corp now owns 207,961 shares of the company’s stock valued at $2,496,000 after purchasing an additional 32,076 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Liquidia by 398.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,039 shares of the company’s stock worth $156,000 after acquiring an additional 10,421 shares during the last quarter. Deuterium Capital Management LLC acquired a new position in shares of Liquidia during the second quarter worth $120,000. Rhumbline Advisers boosted its position in shares of Liquidia by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 80,164 shares of the company’s stock worth $962,000 after acquiring an additional 8,871 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Liquidia by 10.7% during the 2nd quarter. Arizona State Retirement System now owns 13,842 shares of the company’s stock worth $166,000 after acquiring an additional 1,341 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).