In a report released today, Serge Belanger from Needham maintained a Buy rating on Liquidia Technologies (LQDA – Research Report), with a price target of $25.00.
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Serge Belanger’s rating is based on the recent FDA approval of Yutrepia, a treatment for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. This approval marks a significant milestone for Liquidia Technologies, as it overcame numerous challenges posed by United Therapeutics in blocking regulatory actions. The company is poised to launch Yutrepia commercially within the next few weeks, supported by a dedicated sales team.
Despite a muted stock reaction, likely due to the timing of the announcement and a pending court decision, Belanger remains optimistic. The potential temporary restraining order from United Therapeutics is seen as a short-term hurdle that is not expected to significantly impact Liquidia’s long-term prospects. The confidence of Liquidia’s management in overcoming legal challenges further supports the Buy rating, reflecting a positive outlook for the company’s future growth and market presence.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $29.00 price target.