Liquidia price target raised to $19 from $16 at Oppenheimer

Oppenheimer raised the firm’s price target on Liquidia (LQDA) to $19 from $16 and keeps an Underperform rating on the shares. The firm gives credit to the Liquidia team for executing a strong early launch of YUTREPIA in pulmonary arterial hypertension/pulmonary hypertension associated with interstitial lung disease, posting $148.3M in FY2025 net product sales despite what it continues to hear from physicians on YUTREPIA not being meaningfully differentiated. The immediate success speaks more to the growing need in PAH/PH-ILD which Oppenheimer underestimated.