Liquidia Technologies Inc (LQDA) saw its stock price soar 7.05% during intraday trading on Tuesday, following the company's release of better-than-expected first-quarter financial results.

The biopharmaceutical company reported quarterly earnings of 52 cents per share, beating analyst estimates of 41 cents per share, with sales of $132.865 million also exceeding expectations of $116.675 million. CEO Dr. Roger Jeffs highlighted sustained uptake of YUTREPIA in pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.

Following the strong earnings report, multiple analysts raised their price targets on Liquidia, including Wells Fargo increasing from $51 to $62, H.C. Wainwright raising from $55 to $67, and Raymond James boosting from $59 to $68. These positive analyst actions contributed to the stock's significant intraday gain.