Liquidia Technologies (LQDA) AI Stock Analysis

• Market Cap: $2.90B
• Dividend Yield: N/A
• Average Volume (3M): 2.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.74
• 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: 1,274,809
• 30 Day Avg. Volume: 2,076,080
• 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: 0.69
• Enterprise Value/Revenue: 28.97
• Enterprise Value/Gross Profit: 32.40
• Enterprise Value/Ebitda: -20.36
• 1Y Price Target: $47.50
• Price Target Upside: 42.30% 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: $36.00 ▲(7.85% Upside)

Liquidia Technologies' overall stock score is driven by strong technical momentum and positive strategic developments, such as the successful launch of YUTREPIA and a new licensing deal. However, financial performance remains a concern due to high leverage and negative profitability, which weighs heavily on the score. Valuation metrics are also weak, reflecting ongoing financial challenges.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for Liquidia's products, enhancing its market presence and supporting long-term business expansion.

Successful Product Launch

The successful launch of YUTREPIA demonstrates effective market penetration and product acceptance, which is crucial for sustaining future revenue streams.

Strategic Partnership

The partnership with Vectura provides Liquidia with strategic advantages in the pulmonary disease market, offering growth opportunities and potential new revenue streams.

Negative Factors

High Leverage

High leverage poses financial risks, potentially limiting the company's ability to invest in growth opportunities and increasing vulnerability to economic downturns.

Negative Cash Flow

Negative cash flow indicates potential liquidity challenges, which could hinder the company's ability to fund operations and strategic initiatives over the long term.

Litigation Risk

Litigation uncertainty could impact Liquidia's market operations and financial performance, creating a risk to its strategic and financial stability.

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 shows strong revenue growth but struggles with profitability due to negative margins and high leverage. The balance sheet indicates significant financial risk with high debt levels, and cash flow is negative, highlighting liquidity challenges.

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: 33.38
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 33.38 is above the 20-day moving average (MA) of 31.65, above the 50-day MA of 27.23, and above the 200-day MA of 20.20, indicating a bullish trend. The MACD of 1.87 indicates Positive momentum. The RSI at 61.30 is Neutral, neither overbought nor oversold. The STOCH value of 47.29 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	$3.55B	-81.86	-28.17%	―	129.21%	80.35%
LQDA	57 Neutral	$2.90B	―	-183.82%	―	343.41%	11.91%
OCUL	55 Neutral	$3.10B	-10.14	-81.83%	―	-9.21%	-8.84%
ADPT	53 Neutral	$2.36B	-28.69	-37.18%	―	42.57%	60.03%
RXRX	52 Neutral	$2.25B	-2.39	-91.06%	―	-32.98%	-18.46%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IRON	43 Neutral	$3.47B	-17.14	-34.78%	―	―	-34.96%

Liquidia Technologies Corporate Events

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.