United Therapeutics (NASDAQ:UTHR) Given New $463.00 Price Target at Bank of America

United Therapeutics (NASDAQ:UTHR) had its target price raised by equities researchers at Bank of America from $314.00 to $463.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Bank of America‘s price target would suggest a potential upside of 12.69% from the company’s current price.

UTHR has been the topic of several other reports. HC Wainwright set a $400.00 price objective on United Therapeutics and gave the company a “buy” rating in a research report on Thursday, July 31st. UBS Group lifted their price objective on United Therapeutics from $385.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Morgan Stanley cut their price objective on United Therapeutics from $348.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. dropped their price target on United Therapeutics from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of United Therapeutics in a research report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.38.

United Therapeutics Trading Up 34.8%

Shares of NASDAQ:UTHR traded up $106.09 on Tuesday, reaching $410.85. 2,157,609 shares of the company traded hands, compared to its average volume of 541,179. The business’s 50-day simple moving average is $299.03 and its 200 day simple moving average is $304.77. United Therapeutics has a 52 week low of $266.98 and a 52 week high of $436.95. The stock has a market capitalization of $18.53 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 4.62 and a beta of 0.62.

United Therapeutics (NASDAQ:UTHR) last posted its earnings results on Wednesday, July 30th. The biotechnology company reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.80 by ($0.39). The business had revenue of $798.60 million during the quarter, compared to the consensus estimate of $802.13 million. United Therapeutics had a return on equity of 18.73% and a net margin of 40.36%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.85 earnings per share. Sell-side analysts expect that United Therapeutics will post 24.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard Giltner sold 3,036 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $289.60, for a total value of $879,225.60. Following the completion of the sale, the director directly owned 19,384 shares in the company, valued at $5,613,606.40. This represents a 13.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paul A. Mahon sold 11,000 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $308.75, for a total transaction of $3,396,250.00. Following the completion of the transaction, the executive vice president directly owned 36,781 shares of the company’s stock, valued at $11,356,133.75. This represents a 23.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,681 shares of company stock valued at $24,537,839. Company insiders own 10.30% of the company’s stock.

Institutional Trading of United Therapeutics

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position in shares of United Therapeutics by 0.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 9,059 shares of the biotechnology company’s stock valued at $2,603,000 after buying an additional 50 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in United Therapeutics in the 2nd quarter worth about $214,000. Marex Group plc purchased a new stake in United Therapeutics in the 2nd quarter worth about $316,000. State of Wyoming purchased a new position in shares of United Therapeutics during the second quarter worth approximately $55,000. Finally, Capital Impact Advisors LLC increased its position in shares of United Therapeutics by 10.0% during the second quarter. Capital Impact Advisors LLC now owns 23,232 shares of the biotechnology company’s stock worth $6,676,000 after acquiring an additional 2,120 shares during the period. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

About United Therapeutics

United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. The company offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients.