Wells Fargo & Company Initiates Coverage on Liquidia (NASDAQ:LQDA)

Investment analysts at Wells Fargo & Company initiated coverage on shares of Liquidia (NASDAQ:LQDA) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $20.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 80.18% from the stock’s current price.

Several other research firms have also recently commented on LQDA. Scotiabank began coverage on shares of Liquidia in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $30.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Liquidia in a research report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Liquidia in a research report on Thursday, November 14th. Finally, Lifesci Capital started coverage on Liquidia in a report on Thursday, October 3rd. They issued an “outperform” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.38.

Liquidia Stock Up 4.8 %

Shares of NASDAQ:LQDA opened at $11.10 on Friday. The firm has a market cap of $939.47 million, a P/E ratio of -6.81 and a beta of 0.22. Liquidia has a 12 month low of $8.26 and a 12 month high of $16.99. The company’s 50-day moving average price is $10.91 and its two-hundred day moving average price is $11.16.

Insider Transactions at Liquidia

In related news, insider Rajeev Saggar sold 2,526 shares of Liquidia stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $11.19, for a total transaction of $28,265.94. Following the transaction, the insider now owns 204,857 shares of the company’s stock, valued at $2,292,349.83. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Kaseta sold 3,892 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 transaction of $43,240.12. Following the transaction, the chief financial officer now owns 311,076 shares of the company’s stock, valued at approximately $3,456,054.36. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,007 shares of company stock worth $245,780 in the last three months. Insiders own 30.10% of the company’s stock.

Institutional Trading of Liquidia

Several hedge funds have recently added to or reduced their stakes in LQDA. Bank of New York Mellon Corp increased its holdings 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 worth $2,496,000 after acquiring an additional 32,076 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Liquidia by 398.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,039 shares of the company’s stock valued at $156,000 after purchasing an additional 10,421 shares during the period. Deuterium Capital Management LLC bought a new stake in Liquidia during the 2nd quarter worth approximately $120,000. Rhumbline Advisers raised its holdings in Liquidia by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 80,164 shares of the company’s stock worth $962,000 after buying an additional 8,871 shares during the period. Finally, Arizona State Retirement System lifted its stake in Liquidia by 10.7% in the second quarter. Arizona State Retirement System now owns 13,842 shares of the company’s stock valued at $166,000 after buying an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.

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).