Liquidia Technologies (LQDA) AI Stock Analysis

• Market Cap: $2.53B
• Dividend Yield: N/A
• Average Volume (3M): 2.49M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.71
• Revenue Growth: 343.41%
• EPS Growth: 11.91%
• Country: US
• Employees: 170
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.04
• Shares Outstanding: 86,995,480
• 10 Day Avg. Volume: 2,370,530
• 30 Day Avg. Volume: 2,485,726
• PEG Ratio: -0.19
• Price to Book (P/B): 11.98
• Price to Sales (P/S): 66.13
• P/FCF Ratio: -9.41
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 28.97
• Enterprise Value/Gross Profit: 32.40
• Enterprise Value/Ebitda: -20.36
• 1Y Price Target: $47.50
• Price Target Upside: 63.17% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -0.77
• Revenue Forecast (FY): $141.74M

• Rating: 57 Neutral
• Price Target: $31.00 ▲(6.49% Upside)

Liquidia Technologies' stock score is primarily influenced by its strong technical momentum and successful product launch, which are offset by financial instability and valuation concerns. The company's high leverage and ongoing net losses pose significant risks, while the litigation uncertainty adds further challenges. Despite these issues, the positive market response to YUTREPIA and improving cash flow provide some optimism for future performance.

Positive Factors

Successful Product Launch

The successful launch of YUTREPIA with significant prescription uptake indicates strong market acceptance and potential for sustained revenue growth.

Positive Cash Flow

Achieving positive cash flow is a crucial milestone, reflecting improved financial health and providing resources for future investments and growth.

Strategic Growth Plans

Reinvestment in R&D to expand YUTREPIA's clinical utility and explore new indications supports long-term growth and strengthens competitive positioning.

Negative Factors

Profitability Challenges

Ongoing profitability challenges indicate difficulty in cost management, which could hinder financial stability and growth prospects if not addressed.

High Debt Levels

High leverage increases financial risk and could limit the company's ability to invest in growth opportunities or weather economic downturns.

Litigation Uncertainty

Litigation could result in unfavorable outcomes, such as market removal or royalties, impacting the company's market position and financial performance.

Liquidia Technologies Business Overview & Revenue Model

Company Description

Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for unmet patient needs in the United States. Its product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension. It also distributes generic treprostinil injection in the United States. Liquidia Corporation was founded in 2004 and is headquartered in Morrisville, North Carolina.

How the Company Makes Money

Liquidia Technologies generates revenue primarily through the development and commercialization of its product candidates. The company aims to secure partnerships with larger pharmaceutical firms for the co-development and commercialization of its therapies, which can provide upfront payments, milestone payments, and royalties on sales. Additionally, Liquidia may generate revenue through grants or collaborations with government agencies or research institutions. As the company advances its clinical programs and achieves regulatory milestones, it may also be eligible for various incentives and funding opportunities that contribute to its overall earnings.

Liquidia Technologies Financial Statement Overview

Summary

Liquidia Technologies is experiencing strong revenue growth, but profitability remains a challenge with negative margins and high leverage. The balance sheet reflects significant financial risk due to high debt levels. Cash flow is negative, indicating liquidity challenges. The company needs to focus on improving profitability and managing debt to enhance financial stability.

Income Statement

Liquidia Technologies shows a significant revenue growth rate of 258.22% in the TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit, EBIT, and EBITDA margins. The gross profit margin is high at 92.72%, suggesting efficient cost management at the production level, but overall profitability is hindered by high operating expenses.

Balance Sheet

The company's balance sheet reveals high leverage with a debt-to-equity ratio of 9.03, indicating significant financial risk. The return on equity is negative, reflecting losses and poor shareholder returns. The equity ratio is low, suggesting a reliance on debt financing, which could pose risks if revenue growth does not translate into profitability.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a slight decline in free cash flow growth. The operating cash flow to net income ratio is close to 1, indicating that cash flow is closely tied to net income, albeit both are negative. The free cash flow to net income ratio is slightly above 1, suggesting some efficiency in converting income to cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	69.22M	14.00M	17.49M	15.94M	12.85M	739.63K
Gross Profit	61.88M	8.12M	14.60M	13.08M	9.83M	501.92K
EBITDA	-98.48M	-115.71M	-70.05M	-35.03M	-28.20M	-55.79M
Net Income	-121.85M	-130.39M	-78.50M	-41.02M	-34.58M	-59.76M
Balance Sheet
Total Assets	275.98M	230.31M	118.33M	129.20M	93.73M	99.53M
Cash, Cash Equivalents and Short-Term Investments	157.50M	176.48M	83.68M	93.28M	57.49M	65.32M
Total Debt	199.18M	122.39M	49.54M	24.46M	16.08M	17.14M
Total Liabilities	253.93M	153.04M	71.04M	38.78M	28.46M	28.45M
Stockholders Equity	22.05M	77.28M	47.29M	90.42M	65.27M	71.09M
Cash Flow
Free Cash Flow	-107.83M	-98.37M	-42.85M	-29.18M	-34.14M	-54.90M
Operating Cash Flow	-100.74M	-93.42M	-41.56M	-28.59M	-34.03M	-54.14M
Investing Cash Flow	-7.08M	-8.44M	-11.29M	-587.00K	-107.00K	247.91K
Financing Cash Flow	64.45M	194.66M	43.25M	64.96M	26.32M	63.42M

Liquidia Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LQDA, the sentiment is Positive. The current price of 29.11 is above the 20-day moving average (MA) of 26.57, above the 50-day MA of 24.59, and above the 200-day MA of 19.02, indicating a bullish trend. The MACD of 1.43 indicates Negative momentum. The RSI at 61.50 is Neutral, neither overbought nor oversold. The STOCH value of 62.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LQDA.

Liquidia Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARQT	60 Neutral	$3.61B	―	-28.17%	―	129.21%	80.35%
LQDA	57 Neutral	$2.53B	-20.35	-183.82%	―	343.41%	11.91%
ADPT	54 Neutral	$2.58B	-20.78	-37.18%	―	42.57%	60.03%
OCUL	53 Neutral	$2.61B	―	-81.83%	―	-9.21%	-8.84%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IRON	43 Neutral	$3.50B	―	-34.78%	―	―	-34.96%
RXRX	40 Neutral	$2.17B	―	-91.06%	―	-32.98%	-18.46%

Liquidia Technologies Corporate Events

Liquidia Technologies’ Earnings Call: Success Amid Challenges

Liquidia Technologies’ recent earnings call showcased a mix of optimism and caution. The company celebrated a robust launch and financial performance with its product YUTREPIA, marked by significant prescription uptake and positive cash flow. However, challenges such as ongoing net losses and litigation uncertainties were also highlighted, which could impact future performance.

Liquidia Corporation Reports Strong Q3 2025 Results

Liquidia Corporation is a biopharmaceutical company focused on developing innovative therapies for respiratory and vascular diseases, utilizing its proprietary PRINT® Technology to create precise drug formulations.

Liquidia Technologies Secures Licensing Deal with Vectura

On October 27, 2025, Liquidia Technologies entered into an exclusive licensing agreement with Vectura Limited, granting Liquidia the rights to develop, manufacture, and commercialize products containing treprostinil in the United States using Vectura’s nebulizer device. This agreement involves significant financial commitments, including an upfront payment of $2 million, potential milestone payments up to $104.5 million, and royalty payments. The deal enhances Liquidia’s market positioning in the treatment of pulmonary diseases and provides them with the opportunity to negotiate additional territories and indications in the future.

The most recent analyst rating on (LQDA) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Liquidia Technologies stock, see the LQDA Stock Forecast page.

Liquidia’s New Study on Inhaled Treprostinil: What Investors Need to Know

Liquidia Technologies is conducting a clinical study titled An Open-Label ProSpective MultiCENTer Study to Evaluate Safety and Tolerability of Dry Powder Inhaled Treprostinil in Pulmonary Hypertension. The study aims to assess the safety and tolerability of LIQ861, a dry powder inhalation form of treprostinil, in patients with pulmonary hypertension (PH) and interstitial lung disease (ILD). This research is significant as it explores a potentially safer and more effective treatment option for these conditions.

Liquidia Technologies’ Earnings Call Highlights YUTREPIA Success

The latest earnings call from Liquidia Technologies painted a picture of optimism and growth, with the company showcasing a robust start for its product YUTREPIA. The call highlighted impressive prescription numbers and conversion rates, alongside positive study results and a strong financial standing. However, challenges such as market entry blocks and reliance on channel inventory for initial revenue were also acknowledged.

Liquidia Corporation’s Strong Launch of YUTREPIA

Liquidia Corporation is a biopharmaceutical company focused on developing innovative therapies for rare cardiopulmonary diseases, leveraging its proprietary PRINT technology to enhance drug delivery and efficacy. In its latest earnings report, Liquidia highlighted the successful commercial launch of YUTREPIA, an inhalation powder for treating pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), which has seen significant uptake since its FDA approval. The company reported over 900 unique patient prescriptions and 550 patient starts within 11 weeks of launch, reflecting strong demand and the potential for further growth as market access expands. Financially, Liquidia reported product revenue of $6.5 million for the quarter, with a net loss of $41.6 million, driven by increased commercialization efforts and ongoing litigation expenses. Looking ahead, Liquidia aims to scale access to YUTREPIA, expand clinical programs, and continue building value for patients and shareholders, supported by its recent financial agreements.