Raymond James Remains Bullish on Liquidia (LQDA), Cites YUTREPIA’s 75% Growth in U.S. Prostacyclin Revenue

Core Insights - Liquidia Corporation (NASDAQ:LQDA) is recognized as a promising small-cap biotech stock with significant upside potential according to analysts [1] - Raymond James has raised its price target for Liquidia from $41 to $47, maintaining a "Strong Buy" rating, driven by a 75% growth in U.S. prostacyclin revenue from YUTREPIA [2] - The company reported Q3 2025 results with YUTREPIA net sales of $51.7 million and achieved profitability earlier than expected [3] Financial Performance - Liquidia reported a net loss of $3.5 million, or $0.04 per diluted share, for Q3 2025, but achieved a positive adjusted EBITDA of $10.1 million [3] - The company ended the quarter with $157.5 million in cash and reported a net cash flow of $5 million in September [4] - The peak sales estimates for YUTREPIA were raised to $2 billion from $1.1 billion due to strong early launch performance [2] Market Position and Strategy - Over 1,500 patients have been enrolled in YUTREPIA therapy, with more than 2,000 prescriptions written, indicating strong market uptake [3] - Liquidia is exploring additional clinical applications for idiopathic pulmonary fibrosis (IPF) and pulmonary fibrosis (PPF) [4] - The company utilizes proprietary PRINT and TRIA platforms to develop therapies for pulmonary arterial hypertension and related cardiopulmonary diseases [5]