Shares of Liquidia Technologies Inc (NASDAQ: LQDA) surged 5.02% in intraday trading on Wednesday, following a series of analyst upgrades and increased price targets. The biotech company, which focuses on developing and commercializing products to address pulmonary hypertension, saw its stock climb as Wall Street expressed increased confidence in its prospects.
Several prominent financial institutions raised their price targets for Liquidia: - Raymond James boosted its target from $33 to $41, maintaining a Strong Buy rating - Wells Fargo increased its target from $25 to $31, reiterating an Overweight rating - BTIG reaffirmed its Buy rating with a new price target of $49, up from a previous target
The analyst upgrades come on the heels of Liquidia's recent second-quarter earnings report, where the company highlighted the successful launch of YUTREPIA™ (treprostinil) inhalation powder. CEO Dr. Roger Jeffs noted strong initial demand, with over 900 unique patient prescriptions and more than 550 patient starts in just 11 weeks since approval. This positive momentum in the company's commercial efforts appears to be driving investor optimism and analyst confidence in Liquidia's growth potential.
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