Liquidia price target raised to $31 from $27 at Jefferies

Jefferies raised the firm’s price target on Liquidia (LQDA) to $31 from $27 and keeps a Buy rating on the shares after the company announced that the FDA has approved Yutrepia inhalation powder for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. While the stock has been trading incrementally lower post approval, the firm thinks investors are “holding their breaths” waiting for a decision in the ‘782 case, noting that the North Carolina judge intends to get a ruling as soon as possible, most likely on the temporary restraining order first.