Zacks Investment Research Lowers Liquidia Technologies (LQDA) to Sell

Zacks Investment Research downgraded shares of Liquidia Technologies (NASDAQ:LQDA) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Liquidia Technologies, Inc. is a late-stage clinical biopharmaceutical company. It focused on the development and commercialization of human therapeutics using our proprietary PRINT technology to transform the lives of patients. The company’s product candidate consists of LIQ861 for the treatment of pulmonary arterial hypertension and LIQ865 for the treatment of local post-operative pain which are in clinical stage. Liquidia Technologies, Inc. is based in NC, United States. “

LQDA has been the topic of a number of other reports. Wedbush boosted their target price on Liquidia Technologies from $28.00 to $47.00 and gave the stock an outperform rating in a research report on Wednesday. Jefferies Financial Group started coverage on Liquidia Technologies in a research report on Monday, August 20th. They set a buy rating and a $22.00 target price on the stock. Needham & Company LLC set a $32.00 target price on Liquidia Technologies and gave the stock a buy rating in a research report on Wednesday, October 31st. Finally, Cowen set a $40.00 target price on Liquidia Technologies and gave the stock a buy rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $36.50.

Shares of Liquidia Technologies stock opened at $22.36 on Thursday. The company has a current ratio of 6.27, a quick ratio of 6.27 and a debt-to-equity ratio of 0.40. Liquidia Technologies has a fifty-two week low of $10.52 and a fifty-two week high of $38.46.

Liquidia Technologies (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, October 31st. The company reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.26). The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $1.03 million. As a group, analysts predict that Liquidia Technologies will post -7.32 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Liquidia Technologies in the 3rd quarter worth $4,263,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Liquidia Technologies during the third quarter worth $336,000. Laurion Capital Management LP purchased a new stake in shares of Liquidia Technologies during the third quarter worth $480,000. NEA Management Company LLC purchased a new stake in shares of Liquidia Technologies during the third quarter worth $68,193,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of Liquidia Technologies during the third quarter worth $1,483,000. 20.29% of the stock is currently owned by institutional investors.

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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