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Liquidia Technologies Inc (LQDA) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Liquidia Technologies Inc stock $30.88, price $51.40, that is 39.9% below the price, quality 36 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

LT Liquidia Technologies Inc logo Thin data Nov 10, 2026

Liquidia Technologies Inc

LQDA · US
Very expensive, weak quality

Our calculation puts a fair price 40% below what the stock costs today.

Highly profitable · 30.7% net margin (TTM)
Generates free cash flow over the last twelve months
Positive coverage
Revenue last quarter +18% vs. a year ago.
Mixed Growth (revenue 3y +115.0 %/yr in USD)
Wide moat 68/100 · thin data
Insiders bought $317,894 (6M) · sold $168.0M
Fair value $30.88 · Strongly overvalued
Quality 36/100
High debt
Trails peers (4/11)
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$91.03 $2.36 Fair Value $30.88 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $2.36 – $91.03 · fair‑value band $23.16 – $38.61 · the $51.40 price screens above the $30.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for rare cardiopulmonary diseases in the United States.

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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.

Stock analysis

Liquidia Technologies Inc (LQDA) currently trades at $51.40, while our estimate is $30.88, 40% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $23.16 (bear) to $38.61 (bull), the price of $51.40 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Liquidia Technologies Inc reported revenue of $158M in FY2025 versus $12.9M in FY2021, a compound +87.3%/yr. Reported net income was −$68.9M in FY2025.

Key figures

Market cap $5.2B Mid · P/E ratio 37.0 · P/S ratio 11.6 · EPS (TTM) $1.39 · Net margin 30.7% · Return on equity 132% · Return on assets (EBIT) −39.3% (5-year average) · Operating margin 49.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).

What moves the price

The share trades about 44% below its 52-week high and 98% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −27% fair-value upside, at −40%, LQDA screens richer than that median.

Fair Value

Bear $23.16 Fair Value $30.88 Bull $38.61
Price $51.40 · Downside -39.9%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 36/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 100
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 52
Debt, balance sheet and risk of trouble
Investment 65
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 26
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 70
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director bought shares worth $317,894, on May 19, 2026. Over the same period, 15 people sold shares worth $168.0M.

  • SaleJason AdairChief Business Officer12× since Nov 18, 2025: 149,434 shares, avg. $52.91$7.9MOct 26, 202610b5-1 plan
  • SaleDana BoyleChief Accounting Officer10× since Dec 1, 2025: 38,127 shares, avg. $46.63$1.8MOct 26, 202610b5-1 plan
  • SaleRoger JeffsChief Executive Officer, Director13× since Jan 12, 2026: 667,347 shares, avg. $48.22$32.2MOct 12, 202610b5-1 plan
  • SaleMichael KasetaCFO and COO8× since Dec 1, 2025: 397,589 shares, avg. $40.84$16.2MOct 12, 202610b5-1 plan
  • SaleSanjeev KhindriChief Development Officer3× since Jun 8, 2026: 6,420 shares, avg. $60.23$386,708Oct 12, 202610b5-1 plan
  • SaleSarah KreppChief Human Resource Officer10× since Dec 1, 2025: 73,019 shares, avg. $52.00$3.8MOct 12, 2026
  • SaleScott MoomawChief Commercial Officer8× since Dec 1, 2025: 149,454 shares, avg. $37.86$5.7MOct 12, 202610b5-1 plan
  • SaleRajeev SaggarChief Medical Officer6× since Jan 12, 2026: 164,405 shares, avg. $57.02$9.4MOct 12, 2026
  • SaleRussell SchundlerGeneral Counsel6× since Dec 1, 2025: 71,556 shares, avg. $42.74$3.1MOct 12, 202610b5-1 plan
  • SaleStephen M BlochDirector12× since Mar 26, 2026: 1,993,169 shares, avg. $62.74$125.0MOct 5, 2026

Plus 6 more entries from the last 12 months.

Plus 29 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1,031.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+115.0%
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+31.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−7,989.0% (2020) → −32.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

LQDA screens overvalued: fair value 40% below the price. Compare with Merck KGaA →

Earlier news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 606 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Bottom 25%
Fair Value upside −39.9% · Below median
Profitability
Return on equity (12 months) 131.8% · Top 25%
Return on assets −21.0% · Bottom 25%
Net margin (12 months) 30.7% · Top 25%
Operating margin (12 months) 49.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 18.4% · Above median
Balance sheet
Debt / equity 2.97× · Highest 25%

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (12 months) 37.0× · Pricier than median
P/S (12 months) 11.56× · Priciest 25%
EV/EBITDA 30.4× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 18
FUTURE (revenue growth)92 · sector 25
PAST (return on equity)100 · sector 25
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 31

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Zoetis Inc ZTS $82.46 $113.53 +38% vs LQDA
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥48.55 ¥55.21 +14% vs LQDA
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,905 ₹1,983 +4% vs LQDA
Haleon plc HLN $9.06 $8.62 −5% vs LQDA
Merck KGaA MRK €149.35 €109.18 −27% vs LQDA
Galderma Group GALD CHF 188.55 CHF 109.80 −42% vs LQDA
Takeda Pharmaceutical Company TAK $20.93 $11.34 −46% vs LQDA
Teva Pharmaceutical Industries Limited TEVA $42.40 $20.74 −51% vs LQDA
Sandoz Group SDZ CHF 83.38 CHF 39.70 −52% vs LQDA
Divi's Laboratories Limited DIVISLAB ₹11,566 ₹1,567 −86% vs LQDA

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Liquidia Technologies Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Liquidia Technologies Inc Fair Value". https://www.fairvalue-calculator.com/stock/LQDA

Frequently asked questions

Is Liquidia Technologies Inc (LQDA) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $30.88 versus a price of $51.40, about 40% lower (overvalued).
What is the fair value of LQDA?
Our estimate for Liquidia Technologies Inc is $30.88 (as of Nov 10, 2026), built from audited fundamentals. The current price: $51.40.
What is the quality score of LQDA?
Liquidia Technologies Inc has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Liquidia Technologies Inc (LQDA)?
Our calculated price target is the estimate of $30.88 (as of Nov 10, 2026). Cautious scenario $23.16, optimistic scenario $38.61. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Liquidia Technologies Inc stock forecast for 2026?
Our estimate puts fair value at $30.88, about 40% lower versus a price of $51.40 (overvalued). Cautious scenario $23.16, optimistic scenario $38.61. The calculation is refreshed regularly with new filings.
What is the revenue of Liquidia Technologies Inc (LQDA)?
Liquidia Technologies Inc reported trailing-twelve-month revenue of about $451M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Liquidia Technologies Inc (LQDA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Liquidia Technologies Inc it is $30.88 per share (as of Nov 10, 2026), against a price of $51.40.
Is Liquidia Technologies Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, LQDA trades above its calculated fair value: price $51.40, fair value $30.88, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LQDA?
No. The price is what the market pays today ($51.40); the fair value is what the company's own numbers justify ($30.88). For Liquidia Technologies Inc the two are $20.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is Liquidia Technologies Inc worth?
The market values Liquidia Technologies Inc at about $5.2B (market capitalisation, as of Nov 10, 2026). Per share that is $51.40; our models calculate a fair value of $30.88 per share.
What do the bullish and bearish scenarios say about LQDA?
Our models span a range for Liquidia Technologies Inc: cautious scenario $23.16, base $30.88, optimistic $38.61 per share (as of Nov 10, 2026, price $51.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LQDA?
Liquidia Technologies Inc trades at a price-to-earnings ratio of 37.0 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $30.88 is built from several models across several years. Other multiples: P/S 11.6, EV/EBITDA 30.4.
How solid is the balance sheet of Liquidia Technologies Inc (LQDA)?
Balance-sheet figures for Liquidia Technologies Inc (as of Nov 10, 2026): return on equity 131.8%, debt of 2.97 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is LQDA from its 52-week high?
Liquidia Technologies Inc trades at $51.40, about 44% below its 52-week high of $91.03 and 98% above the low of $25.91 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $30.88 is for.
Which stocks are comparable to Liquidia Technologies Inc?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Galderma Group, Teva Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Liquidia Technologies Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $51.40, calculated fair value $30.88 (−40%), Quality Score 36/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Liquidia Technologies Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Liquidia Technologies Inc (LQDA)?
The closing price on Nov 10, 2026 was $51.40. Our estimate is $30.88, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Liquidia Technologies Inc right now?
The price sits above even our optimistic bull case ($38.61). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Liquidia Technologies Inc

How large is the market capitalisation of Liquidia Technologies Inc (LQDA)?
The market capitalisation of Liquidia Technologies Inc is $5.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Liquidia Technologies Inc (LQDA)?
The price-to-sales ratio of Liquidia Technologies Inc is 11.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Liquidia Technologies Inc (LQDA)?
Earnings per share at Liquidia Technologies Inc are $1.39 (price ÷ EPS = P/E 37.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Liquidia Technologies Inc (LQDA)?
The net margin of Liquidia Technologies Inc is 30.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Liquidia Technologies Inc (LQDA)?
The return on equity (ROE) of Liquidia Technologies Inc is 132% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Liquidia Technologies Inc (LQDA)?
On an EBIT basis the return on assets of Liquidia Technologies Inc is −39.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Liquidia Technologies Inc (LQDA)?
The operating margin of Liquidia Technologies Inc is 49.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Liquidia Technologies Inc (LQDA)?
Revenue at Liquidia Technologies Inc is growing +18.4% versus a year earlier (3y avg +115%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Liquidia Technologies Inc (LQDA) generate?
The free cash flow of Liquidia Technologies Inc is −$40.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Liquidia Technologies Inc (LQDA) carry?
The net debt of Liquidia Technologies Inc is $7.2M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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