Liquidia (NASDAQ:LQDA) Shares Gap Down on Disappointing Earnings

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $14.74, but opened at $14.38. Liquidia shares last traded at $14.50, with a volume of 53,504 shares.

The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.08). The business had revenue of $2.92 million for the quarter, compared to the consensus estimate of $4.60 million. Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Scotiabank lifted their target price on shares of Liquidia from $30.00 to $34.00 and gave the company a "sector outperform" rating in a research note on Thursday. HC Wainwright reiterated a "buy" rating and issued a $29.00 target price on shares of Liquidia in a research note on Thursday. Needham & Company LLC lifted their target price on shares of Liquidia from $19.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company assumed coverage on shares of Liquidia in a research note on Friday, December 20th. They issued an "overweight" rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $26.63.

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Insiders Place Their Bets

In other Liquidia news, insider Rajeev Saggar sold 2,445 shares of Liquidia stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.00, for a total transaction of $31,785.00. Following the completion of the sale, the insider now owns 267,943 shares of the company's stock, valued at approximately $3,483,259. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Kaseta sold 23,370 shares of Liquidia stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $11.78, for a total transaction of $275,298.60. Following the sale, the chief financial officer now directly owns 401,755 shares of the company's stock, valued at $4,732,673.90. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,245 shares of company stock valued at $843,326. Company insiders own 30.10% of the company's stock.

Hedge Funds Weigh In On Liquidia

Several institutional investors and hedge funds have recently made changes to their positions in LQDA. Steward Partners Investment Advisory LLC acquired a new position in shares of Liquidia in the 4th quarter valued at $59,000. Summit Investment Advisors Inc. boosted its stake in Liquidia by 35.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company's stock worth $78,000 after purchasing an additional 1,719 shares during the period. Walleye Trading LLC boosted its stake in Liquidia by 54.7% in the 3rd quarter. Walleye Trading LLC now owns 13,201 shares of the company's stock worth $132,000 after purchasing an additional 4,670 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Liquidia in the 4th quarter worth $142,000. Finally, EntryPoint Capital LLC acquired a new position in Liquidia in the 4th quarter worth $154,000. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Trading Down 2.1 %

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.28 and a beta of 0.07. The stock's 50 day moving average is $14.79 and its two-hundred day moving average is $12.23.

Liquidia Company Profile

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).