Liquidia Technologies (NASDAQ:LQDA) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Liquidia Technologies (NASDAQ:LQDA) from a hold rating to a buy rating in a research report released on Thursday morning, ValuEngine reports.

Other research analysts also recently issued reports about the company. Wedbush restated a buy rating and set a $50.00 price objective on shares of Liquidia Technologies in a research report on Friday, June 28th. Zacks Investment Research downgraded Liquidia Technologies from a buy rating to a hold rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Liquidia Technologies currently has an average rating of Buy and a consensus price target of $31.80.

Shares of Liquidia Technologies stock traded down $0.45 during trading on Thursday, hitting $6.35. 27,073 shares of the company were exchanged, compared to its average volume of 38,519. The company has a debt-to-equity ratio of 0.46, a current ratio of 5.57 and a quick ratio of 5.57. Liquidia Technologies has a fifty-two week low of $6.27 and a fifty-two week high of $38.46. The stock has a market cap of $136.28 million and a PE ratio of -0.85. The stock has a 50 day moving average of $7.99.

Liquidia Technologies (NASDAQ:LQDA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%. As a group, research analysts forecast that Liquidia Technologies will post -2.56 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in LQDA. Marshall Wace North America L.P. purchased a new stake in Liquidia Technologies in the 1st quarter worth approximately $1,881,000. OZ Management LP purchased a new stake in Liquidia Technologies in the 1st quarter worth approximately $1,138,000. Millennium Management LLC grew its stake in Liquidia Technologies by 91.6% in the 4th 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 during the period. Canaan Partners VIII LLC grew its stake in Liquidia Technologies by 1.3% in the 1st 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 during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Liquidia Technologies in the 4th quarter worth approximately $403,000. 56.37% of the stock is owned by hedge funds and other institutional investors.

Liquidia Technologies Company Profile

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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