Liquidia price target raised to $31 from $25 at Wells Fargo

Wells Fargo raised the firm’s price target on Liquidia (LQDA) to $31 from $25 and keeps an Overweight rating on the shares. The firm was expecting roughly 15% upside on a good Yutrepia update, but the actual update exceeded expectations. Yutrepia is having an “exceptionally strong start” to its launch, with Tuesday’s update fundamentally changing Liquidia’s risk profile, the analyst tells investors in a research note. The firm updated its price target on increased Yutrepia estimates.