Liquidia price target raised at Scotiabank after ‘best case’ court ruling

Scotiabank raised the firm’s price target on Liquidia (LQDA) to $36 from $34 and keeps an Outperform rating on the shares after Judge Timothy Kelly granted motions from both Liquidia and the FDA to dismiss United Therapeutics’ (UTHR) lawsuit against the FDA that alleged Yutrepia’s NDA amendment violated the FDA’s policy. The analyst, who calls the ruling “a best case scenario” ahead of Yutrepia’s May 24 PDUFA date, is increasing the firm’s view on the odds of success for Yutrepia to 95% from 90% as a result of this “legal de-risking event.”