Liquidia price target lowered to $40 from $45 at BTIG

BTIG lowered the firm’s price target on Liquidia (LQDA) to $40 from $45 and keeps a Buy rating on the shares after having attended the United Therapeutics (UTHR) versus Liquidia ‘327 Hatch Waxman trial in Delaware this week. The firm still sees “favorable odds” of Liquidia prevailing past United’s ‘327 patent, but lowers its view of the probability of success of Yutrepia in pulmonary hypertension associated with interstitial lung disease to 85% from 99% to “more appropriately reflect this unresolved risk,” the analyst tells investors.