Symbols / LQDA Stock $58.75 -5.04% Liquidia Corporation

Healthcare • Drug Manufacturers - Specialty & Generic • United States • NCM
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Stock Fundamentals
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Index EQUITY
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
CEO Dr. Roger A. Jeffs Ph.D.
Exch · Country NCM · United States
Market Cap 5.22B
Enterprise Value 5.19B
Income 22.30M
Sales 288.06M
FCF (ttm) 9.58M
Book/sh 1.23
Cash/sh 2.50
Employees 216
Insider 10d —
IPO Jul 26, 2018
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 345.56
Forward P/E 10.54
PEG —
P/S 18.14
P/B 47.76
P/C —
EV/EBITDA 111.23
EV/Sales 18.00
Quick Ratio 1.98
Current Ratio 2.22
Debt/Eq 170.22
LT Debt/Eq —
EPS (ttm) 0.17
EPS next Y 5.57
EPS Growth —
Revenue Growth 41.59%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-12
Earnings (prior) 2026-05-11
ROA 9.05%
ROE 28.18%
ROIC —
Gross Margin 91.81%
Oper. Margin 46.29%
Profit Margin 7.74%
Shs Outstand 88.93M
Shs Float 62.24M
Insider Own 12.69%
Instit Own 70.12%
Short Float 14.26%
Short Ratio 6.63
Short Interest 10.21M
52W High 63.46
vs 52W High -7.43%
52W Low 11.85
vs 52W Low 395.74%
Beta 0.42
Impl. Vol. 0.78%
Rel Volume 0.97
Avg Volume 1.37M
Volume 1.34M
Target (mean) $65.12
Tgt Median —
Tgt Low $59.00
Tgt High $70.00
# Analysts 8
Recom None
Prev Close $61.86
Price $58.74
Change -5.04%
About

Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for rare cardiopulmonary diseases in the United States. The company's 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). It also provides Remodulin, a treprostinil injection administered through continuous intravenous and subcutaneous infusion; and develops L606, an investigational liposomal formulation of treprostinil which is in phase III clinical trial for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). In addition, the company offers PRINT technology which allows to engineer and manufacture uniform drug particles with precise control over the size, three-dimensional geometric shape, and chemical composition of the particles. It has a license agreement with Pharmosa Biopharm Inc to develop and commercialize L606, an inhaled sustained-release formulation of Treprostinil for the treatment of PAH and PH-ILD; Vectura; The University of North Carolina at Chapel Hill; GlaxoSmithKline; Alcon Inc; and promotion Agreement with Sandoz. Liquidia Corporation was founded in 2004 and is based in Morrisville, North Carolina.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$65.13
Mean price target
2. Current target
$58.75
Latest analyst target
3. DCF / Fair value
$1.94
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$58.75
Low
$59.00
High
$70.00
Mean
$65.13

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2024-10-16 init Scotiabank — → Sector Outperform $30
2024-10-03 init LifeSci Capital — → Outperform $30
2024-08-23 reit HC Wainwright & Co. Buy → Buy $29
2024-08-22 reit Needham Buy → Buy $19
2024-08-20 main BTIG Buy → Buy $25
2024-08-20 main B of A Securities Buy → Buy $23
2024-08-20 main HC Wainwright & Co. Buy → Buy $29
2024-08-19 main BTIG Buy → Buy $25
2024-08-19 up Raymond James Outperform → Strong Buy $27
2024-08-19 reit Needham Buy → Buy $25
2024-08-16 init Raymond James — → Outperform $27
2024-08-13 reit Needham Buy → Buy $25
2024-08-08 main Needham Buy → Buy $25
2024-07-18 reit Needham Buy → Buy $28
2024-07-10 reit HC Wainwright & Co. Buy → Buy $32
2024-06-25 init Oppenheimer — → Perform —
2024-06-03 reit Needham Buy → Buy $28
2024-05-15 reit HC Wainwright & Co. Buy → Buy $32
2024-05-15 reit Needham Buy → Buy $28
2024-04-10 reit Needham Buy → Buy $28
News
RSS: Latest LQDA news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-27 JEFFS ROGER A Chief Executive Officer — 6,428 $62.18 $399,712
2026-05-26 JEFFS ROGER A Chief Executive Officer — 75,000 $60.38 $4,575,675
2026-05-21 SINGH RAMAN Director — 29,494 $8.63 $278,352
2026-05-21 SINGH RAMAN Director — 29,494 $60.13 $1,773,436
2026-05-20 JEFFS ROGER A Chief Executive Officer — 75,000 $56.77 $4,418,010
2026-05-19 CALIGAN PARTNERS L,P. Beneficial Owner of more than 10% of a Class of Security — 5,300 $59.98 $317,894
2026-05-19 CALIGAN PARTNERS L,P. Beneficial Owner of more than 10% of a Class of Security — 5,300 $59.98 $317,894
2026-05-15 JEFFS ROGER A Chief Executive Officer — 75,000 $56.29 $4,298,765
2026-05-12 JEFFS ROGER A Chief Executive Officer — 75,000 $42.14 $3,732,805
2026-05-11 BLOCH STEPHEN M Director — 318,893 $48.61 $16,016,775
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
158.32
+1031.18%
14.00
-19.97%
17.49
+9.75%
15.94
Operating Revenue
158.32
+1031.18%
14.00
-19.97%
17.49
+9.75%
15.94
Cost Of Revenue
13.24
+125.24%
5.88
+103.57%
2.89
+1.01%
2.86
Reconciled Cost Of Revenue
13.24
+125.24%
5.88
+103.57%
2.89
+1.01%
2.86
Gross Profit
145.08
+1687.34%
8.12
-44.40%
14.60
+11.65%
13.08
Operating Expense
196.45
+51.81%
129.41
+47.08%
87.98
+69.70%
51.85
Research And Development
39.28
-17.90%
47.84
+10.64%
43.24
+122.50%
19.43
Selling General And Administration
157.18
+92.69%
81.57
+82.31%
44.74
+38.05%
32.41
General And Administrative Expense
157.18
+92.69%
81.57
+82.31%
44.74
+38.05%
32.41
Other Gand A
157.18
+92.69%
81.57
+82.31%
44.74
+38.05%
32.41
Total Expenses
209.70
+55.00%
135.29
+48.88%
90.87
+66.11%
54.70
Operating Income
-51.38
+57.64%
-121.29
-65.29%
-73.38
-89.28%
-38.77
Total Operating Income As Reported
-51.38
+57.64%
-121.29
-65.29%
-73.38
-89.28%
-38.77
EBITDA
-43.22
+61.21%
-111.44
-59.09%
-70.05
-99.97%
-35.03
Normalized EBITDA
-43.22
+61.21%
-111.44
-64.52%
-67.74
-99.04%
-34.03
Reconciled Depreciation
1.53
-30.45%
2.20
+0.87%
2.18
-40.28%
3.65
EBIT
-44.75
+60.62%
-113.64
-57.33%
-72.23
-86.75%
-38.68
Total Unusual Items
0.00
0.00
+100.00%
-2.31
-131.80%
-1.00
Total Unusual Items Excluding Goodwill
0.00
0.00
+100.00%
-2.31
-131.80%
-1.00
Special Income Charges
0.00
0.00
+100.00%
-2.31
-131.80%
-1.00
Other Special Charges
—
4.27
+84.68%
2.31
+131.80%
1.00
Net Income
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Pretax Income
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Net Non Operating Interest Income Expense
-17.55
-150.79%
-7.00
-149.27%
-2.81
-124.92%
-1.25
Interest Expense Non Operating
24.17
+64.99%
14.65
+133.56%
6.27
+168.31%
2.34
Net Interest Income
-17.55
-150.79%
-7.00
-149.27%
-2.81
-124.92%
-1.25
Interest Expense
24.17
+64.99%
14.65
+133.56%
6.27
+168.31%
2.34
Interest Income Non Operating
6.62
-13.46%
7.65
+120.83%
3.47
+217.98%
1.09
Interest Income
6.62
-13.46%
7.65
+120.83%
3.47
+217.98%
1.09
Other Income Expense
—
-4.27
-84.68%
-2.31
-131.80%
-1.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Net Income From Continuing Operation Net Minority Interest
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Net Income From Continuing And Discontinued Operation
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Net Income Continuous Operations
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Normalized Income
-68.92
+46.28%
-128.29
-68.38%
-76.19
-90.39%
-40.02
Net Income Common Stockholders
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Diluted EPS
—
-1.66
-37.19%
-1.21
-80.60%
-0.67
Basic EPS
—
-1.66
-37.19%
-1.21
-80.60%
-0.67
Basic Average Shares
—
78.71
+21.10%
64.99
+6.62%
60.96
Diluted Average Shares
—
78.71
+21.10%
64.99
+6.62%
60.96
Diluted NI Availto Com Stockholders
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
327.93
+42.39%
230.31
+94.63%
118.33
-8.41%
129.20
Current Assets
273.40
+47.70%
185.10
+105.90%
89.90
-9.93%
99.81
Cash Cash Equivalents And Short Term Investments
190.68
+8.05%
176.48
+110.90%
83.68
-10.30%
93.28
Cash And Cash Equivalents
190.68
+8.05%
176.48
+110.90%
83.68
-10.30%
93.28
Receivables
54.09
+1889.44%
2.72
-33.05%
4.06
-19.06%
5.02
Accounts Receivable
54.09
+1889.44%
2.72
-33.05%
4.06
-19.06%
5.02
Inventory
23.80
+9776.35%
0.24
0.00
—
Prepaid Assets
—
—
—
—
Other Current Assets
4.83
-14.83%
5.67
+162.44%
2.16
+42.89%
1.51
Total Non Current Assets
54.53
+20.63%
45.21
+59.00%
28.43
-3.25%
29.39
Net PPE
15.79
+26.50%
12.48
+101.89%
6.18
-1.09%
6.25
Gross PPE
29.76
+5.18%
28.29
+31.61%
21.50
+5.56%
20.37
Accumulated Depreciation
-13.97
+11.65%
-15.81
-3.23%
-15.31
-8.50%
-14.11
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
2.46
+100.33%
1.23
+64.52%
0.75
+68.24%
0.44
Construction In Progress
5.09
+69.64%
3.00
+273.26%
0.80
+418.71%
0.15
Other Properties
9.18
-17.33%
11.11
+30.07%
8.54
+2.15%
8.36
Leases
13.03
+0.53%
12.96
+13.59%
11.41
+0.00%
11.41
Goodwill And Other Intangible Assets
6.86
-2.89%
7.06
-3.74%
7.33
-3.88%
7.63
Goodwill
3.90
+0.00%
3.90
+0.00%
3.90
+0.00%
3.90
Other Intangible Assets
2.95
-6.46%
3.16
-7.99%
3.43
-7.94%
3.73
Non Current Deferred Assets
6.82
-6.42%
7.29
-8.03%
7.92
-7.93%
8.60
Non Current Prepaid Assets
—
—
—
—
Other Non Current Assets
25.07
+36.40%
18.38
+162.77%
6.99
+1.33%
6.90
Total Liabilities Net Minority Interest
283.19
+87.62%
150.94
+112.47%
71.04
+83.20%
38.78
Current Liabilities
135.77
+224.95%
41.78
+125.23%
18.55
+110.80%
8.80
Payables And Accrued Expenses
56.56
+331.82%
13.10
+109.48%
6.25
+28.72%
4.86
Payables
3.68
-21.56%
4.69
+235.89%
1.40
-36.46%
2.20
Accounts Payable
3.68
-21.56%
4.69
+235.89%
1.40
-36.46%
2.20
Other Payable
—
—
2.62
—
Current Accrued Expenses
52.88
+528.90%
8.41
+73.15%
4.86
+82.56%
2.66
Pensionand Other Post Retirement Benefit Plans Current
20.32
+98.21%
10.25
+19.98%
8.54
+198.53%
2.86
Current Debt And Capital Lease Obligation
58.89
+219.50%
18.43
+391.02%
3.75
+247.27%
1.08
Current Debt
58.41
+224.19%
18.02
+588.95%
2.62
—
Other Current Borrowings
58.41
+224.19%
18.02
+588.95%
2.62
—
Current Capital Lease Obligation
0.49
+16.79%
0.42
-63.39%
1.14
+5.37%
1.08
Total Non Current Liabilities Net Minority Interest
147.42
+35.06%
109.15
+107.96%
52.49
+75.10%
29.98
Long Term Debt And Capital Lease Obligation
139.03
+36.50%
101.85
+122.48%
45.78
+95.80%
23.38
Long Term Debt
132.94
+39.54%
95.27
+119.42%
43.42
+118.41%
19.88
Long Term Capital Lease Obligation
6.10
-7.39%
6.59
+178.60%
2.36
-32.51%
3.50
Tradeand Other Payables Non Current
8.38
+14.85%
7.30
+8.84%
6.71
+1.71%
6.59
Stockholders Equity
44.75
-43.63%
79.38
+67.84%
47.29
-47.70%
90.42
Common Stock Equity
44.75
-43.63%
79.38
+67.84%
47.29
-47.70%
90.42
Capital Stock
0.09
+2.35%
0.09
+23.19%
0.07
+7.81%
0.06
Common Stock
0.09
+2.35%
0.09
+23.19%
0.07
+7.81%
0.06
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
87.20
+2.98%
84.68
+23.39%
68.63
+6.37%
64.52
Ordinary Shares Number
87.20
+2.98%
84.68
+23.39%
68.63
+6.37%
64.52
Additional Paid In Capital
670.97
+5.39%
636.68
+33.67%
476.32
+8.02%
440.95
Retained Earnings
-626.31
-12.37%
-557.39
-29.90%
-429.10
-22.39%
-350.60
Total Equity Gross Minority Interest
44.75
-43.63%
79.38
+67.84%
47.29
-47.70%
90.42
Total Capitalization
177.68
+1.74%
174.65
+92.53%
90.71
-17.76%
110.30
Working Capital
137.63
-3.97%
143.32
+100.88%
71.35
-21.60%
91.01
Invested Capital
236.09
+22.54%
192.66
+106.44%
93.33
-15.39%
110.30
Total Debt
197.93
+64.55%
120.29
+142.83%
49.54
+102.49%
24.46
Net Debt
0.66
—
—
—
Capital Lease Obligations
6.59
-5.95%
7.00
+99.91%
3.50
-23.58%
4.58
Net Tangible Assets
37.89
-47.60%
72.32
+80.98%
39.96
-51.74%
82.79
Tangible Book Value
37.89
-47.60%
72.32
+80.98%
39.96
-51.74%
82.79
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-35.69
+61.80%
-93.42
-124.77%
-41.56
-45.39%
-28.59
Cash Flow From Continuing Operating Activities
-35.69
+61.80%
-93.42
-124.77%
-41.56
-45.39%
-28.59
Net Income From Continuing Operations
-68.92
+46.28%
-128.29
-63.42%
-78.50
-91.40%
-41.02
Depreciation Amortization Depletion
1.53
-30.45%
2.20
+0.87%
2.18
-40.28%
3.65
Depreciation And Amortization
1.53
-30.45%
2.20
+0.87%
2.18
-40.28%
3.65
Other Non Cash Items
26.41
+41.90%
18.61
+12.87%
16.49
+2480.59%
0.64
Stock Based Compensation
29.47
+56.72%
18.81
+86.40%
10.09
+8.51%
9.30
Operating Gains Losses
0.01
-76.09%
0.05
-98.01%
2.31
+130.67%
1.00
Gain Loss On Sale Of PPE
0.01
-76.09%
0.05
+2400.00%
-0.00
-150.00%
0.00
Change In Working Capital
-24.18
-404.65%
-4.79
-181.61%
5.87
+372.10%
-2.16
Change In Receivables
-51.37
-3928.17%
1.34
+40.38%
0.96
+147.16%
-2.03
Changes In Account Receivables
-51.37
-3928.17%
1.34
+40.38%
0.96
+147.16%
-2.03
Change In Inventory
-22.99
-9438.59%
-0.24
0.00
—
Change In Prepaid Assets
0.84
+144.66%
-1.88
-135.71%
-0.80
-10.99%
-0.72
Change In Payables And Accrued Expense
51.95
+584.48%
7.59
+15.09%
6.59
+385.21%
1.36
Change In Accrued Expense
54.54
+937.04%
5.26
-32.11%
7.75
+1321.28%
0.55
Change In Payable
-2.59
-211.29%
2.33
+302.26%
-1.15
-241.52%
0.81
Change In Account Payable
-2.59
-211.29%
2.33
+302.26%
-1.15
-241.52%
0.81
Change In Other Working Capital
—
—
—
—
Change In Other Current Assets
-2.25
+78.81%
-10.63
-53255.00%
0.02
+400.00%
0.00
Change In Other Current Liabilities
-0.35
+63.61%
-0.97
-7.78%
-0.90
-16.13%
-0.78
Investing Cash Flow
-6.34
+24.94%
-8.44
+25.22%
-11.29
-1823.00%
-0.59
Cash Flow From Continuing Investing Activities
-6.34
+24.94%
-8.44
+25.22%
-11.29
-1823.00%
-0.59
Net PPE Purchase And Sale
-4.34
+12.24%
-4.94
-283.62%
-1.29
-119.42%
-0.59
Purchase Of PPE
-4.34
+12.39%
-4.95
-283.64%
-1.29
-117.91%
-0.59
Sale Of PPE
0.00
-100.00%
0.01
+300.00%
0.00
-60.00%
0.01
Capital Expenditure
-6.34
+25.01%
-8.45
+25.16%
-11.29
-1807.09%
-0.59
Net Business Purchase And Sale
—
—
—
—
Net Intangibles Purchase And Sale
-2.00
+42.86%
-3.50
+65.00%
-10.00
0.00
Purchase Of Intangibles
-2.00
+42.86%
-3.50
+65.00%
-10.00
0.00
Financing Cash Flow
59.73
-69.32%
194.66
+350.11%
43.25
-33.43%
64.96
Cash Flow From Continuing Financing Activities
59.73
-69.32%
194.66
+350.11%
43.25
-33.43%
64.96
Net Issuance Payments Of Debt
53.82
+2.52%
52.50
+196.29%
17.72
+97.85%
8.96
Issuance Of Debt
74.97
+30.48%
57.46
+37.65%
41.74
+111.18%
19.77
Repayment Of Debt
-21.15
-326.49%
-4.96
+79.35%
-24.02
-122.23%
-10.81
Long Term Debt Issuance
74.97
+30.48%
57.46
+37.65%
41.74
+111.18%
19.77
Long Term Debt Payments
-21.15
-326.49%
-4.96
+79.35%
-24.02
-122.23%
-10.81
Net Long Term Debt Issuance
53.82
+2.52%
52.50
+196.29%
17.72
+97.85%
8.96
Net Common Stock Issuance
0.00
-100.00%
138.55
+471.63%
24.24
-55.49%
54.46
Proceeds From Stock Option Exercised
4.82
+59.72%
3.02
+156.28%
1.18
+7.48%
1.10
Net Other Financing Charges
1.08
+82.80%
0.59
+424.78%
0.11
-74.94%
0.45
Changes In Cash
17.70
-80.92%
92.80
+1066.26%
-9.60
-126.84%
35.79
Beginning Cash Position
176.48
+110.90%
83.68
-10.30%
93.28
+62.25%
57.49
End Cash Position
194.18
+10.03%
176.48
+110.90%
83.68
-10.30%
93.28
Free Cash Flow
-42.02
+58.75%
-101.87
-92.74%
-52.85
-81.13%
-29.18
Interest Paid Supplemental Data
0.00
0.00
-100.00%
0.36
-77.86%
1.63
Common Stock Issuance
0.00
-100.00%
138.55
+471.63%
24.24
-55.49%
54.46
Issuance Of Capital Stock
0.00
-100.00%
138.55
+471.63%
24.24
-55.49%
54.46
Sale Of Business
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SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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