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Liquidia price target raised to $32 from $25 at Needham

Needham raised the firm’s price target on Liquidia (LQDA) to $32 from $25 and keeps a Buy rating on the shares. Friday’s ruling in a case over the ‘782 patent infringement denied the motion by United Therapeutics (UTHR) for a temporary restraining order and preliminary injunction that sought to enjoin Liquidia’s Yutrepia launch and eliminates the last potential hurdle that could have prevented Liquidia from launching Yutrepia, turning the focus on the program to execution, the analyst tells investors in a research note. The firm believes in the “underappreciated” differentiated clinical profile with better tolerability and higher dose levels” of Yutrepia and its best-in-class potential in a growing PAH/PH-ILD market opportunity, the firm added.

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