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On Wednesday, Raymond (NSE:RYMD) James reiterated its Strong Buy rating on Liquidia Technologies (NASDAQ:LQDA) with a price target of $29.00, representing significant upside potential from the current price of $17.02. The stock has shown remarkable momentum, gaining nearly 68% over the past six months according to InvestingPro data. The firm’s analyst, Ryan Deschner, provided insights following Liquidia’s presentation of new data from the ASCENT study at the American Thoracic Society (ATS) Conference this week. The study evaluated Yutrepia in patients with pulmonary hypertension due to interstitial lung disease (PH-ILD).
Deschner expressed optimism about the data’s implications for Yutrepia’s market value, particularly in PH-ILD, which is projected to account for a significant portion of the drug’s peak sales. While the company currently generates modest revenue of $14.14 million, InvestingPro analysis shows strong financial health indicators, including a healthy current ratio of 2.93 and moderate debt levels. The analysis suggested that Yutrepia could be administered at higher doses while maintaining a favorable safety and tolerability profile. Additionally, efficacy measures such as the six-minute walk distance (6MWD) appeared competitive, if not superior, to comparable data from other treatments.
The Raymond James analyst also maintained the view that Yutrepia’s target markets, including PH-ILD, have the potential to support multiple successful products. The double PDUFA date for Yutrepia is set for May 24, 2025. Deschner downplayed the potential impact of legal challenges from United Therapeutics (NASDAQ:UTHR), describing them as increasingly weak. Furthermore, concerns about patient-switching were deemed unlikely to significantly affect Yutrepia’s market entry into the PH-ILD space, which is currently underpenetrated and has limited treatment options.
The analyst concluded that the new data reinforces the thesis that Yutrepia has a strong standing in its target markets and faces limited risks from competition and legal challenges. Liquidia Technologies’ stock price target remains unchanged at $29.00, with analyst targets ranging from $13 to $36, reflecting the company’s continued promise in the biopharmaceutical industry. For deeper insights into Liquidia’s financial health, valuation metrics, and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 10 additional ProTips and detailed financial metrics.
In other recent news, Liquidia Technologies reported a larger net loss for the first quarter of 2025, despite a slight increase in revenue. The company’s earnings per share fell short of forecasts, with a reported EPS of -$0.45 compared to the expected -$0.40. Revenue for the quarter reached $3.1 million, marking a modest increase from the previous year. Meanwhile, BTIG reaffirmed its Buy rating with a $29 target, citing promising data on Yutrepia’s therapeutic potential in treating pulmonary hypertension. However, Oppenheimer downgraded Liquidia to Underperform, setting a price target of $13, due to concerns over the market launch of Yutrepia. Raymond James maintained a Strong Buy rating, focusing on ongoing patent litigation that could impact Yutrepia’s commercialization. The company’s preparations for Yutrepia’s potential launch continue, with a PDUFA date set for May 24, 2025.
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