BTIG Raises Liquidia Price Target Following YUTREPIA Approval

On Monday, June 2, BTIG analysts raised the price target for Liquidia Corporation (NASDAQ:LQDA) from $37 to $45 and kept a “Buy” rating.

This decision came after the full FDA approval of YUTREPIA inhalation powder for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. The drug is now available in specialty pharmacies. BTIG noted that the annualized WAC price for YUTREPIA was set at $317,000.

BTIG expects the market to focus on the pending temporary restraining order filed by United Therapeutics. However, the firm believes that there is a low chance that Liquidia Corporation will be stopped from selling YUTREPIA now that it has full FDA approval. The court has also denied the request for preliminary injunction and a temporary restraining order by United Therapeutics, which cleared the path for the full commercial launch of YUTREPIA.

The increase in the price target for Liquidia Corporation also reflects improved probabilities for YUTREPIA’s success in treating pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The analysts increased the probability of success from 95% to 99% and lowered the discount rate from 20% to 17.5%.

Liquidia Corporation is a biopharmaceutical company that focuses on developing and commercializing therapies for rare cardiopulmonary diseases.

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