Liquidia price target raised to $39 from $37 at BofA

BofA raised the firm’s price target on Liquidia (LQDA) to $39 from $37 and keeps a Buy rating on the shares after the company reported Q3 net sales that beat BofA and the Street’s sales forecasts. The firm believes shares are flat given the overhang on pending patent litigation that risks narrowing Yutrepia’s indication statement, but it thinks today’s results confirm Yutrepia’s value proposition in the pulmonary hypertension market, a faster ramp to peak sales and much greater revenue opportunity from the PAH indication, the analyst tells investors.