TD Cowen Forecasts Strong Price Appreciation for United Therapeutics (NASDAQ:UTHR) Stock

United Therapeutics (NASDAQ:UTHR) had its price objective upped by analysts at TD Cowen from $675.00 to $700.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. TD Cowen‘s target price suggests a potential upside of 24.08% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Bank of America cut their price target on shares of United Therapeutics from $620.00 to $613.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Royal Bank Of Canada boosted their price objective on shares of United Therapeutics from $697.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $728.00 target price on shares of United Therapeutics in a research note on Wednesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $850.00 target price on shares of United Therapeutics in a report on Monday, October 26th. Finally, Morgan Stanley lifted their price target on shares of United Therapeutics from $515.00 to $566.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 7th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $676.40.

United Therapeutics Trading Down 7.3%

Shares of NASDAQ:UTHR traded down $44.35 during midday trading on Thursday, hitting $564.14. The company had a trading volume of 376,213 shares, compared to its average volume of 556,333. United Therapeutics has a 12 month low of $444.04 and a 12 month high of $614.23. The firm has a fifty day simple moving average of $532.33 and a 200 day simple moving average of $532.45. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 4.35 and a beta of 0.49.

United Therapeutics (NASDAQ:UTHR) last released its earnings results on Wednesday, November 4th. The biotechnology company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.01 by ($0.30). United Therapeutics had a net margin of 41.56% and a return on equity of 20.18%. The company had revenue of $832.50 million during the quarter, compared to analyst estimates of $781.14 million. During the same period in the previous year, the company posted $7.16 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that United Therapeutics will post 26.09 EPS for the current fiscal year.

United Therapeutics declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 22nd that allows the company to repurchase $2 billion in shares. This repurchase authorization allows the biotechnology company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Paul A. Mahon sold 8,300 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $544.30, for a total transaction of $4,517,690.00. Following the completion of the sale, the executive vice president owned 45,172 shares of the company’s stock, valued at $24,587,119.60. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martine A. Rothblatt sold 9,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $596.22, for a total transaction of $5,664,090.00. Following the sale, the chief executive officer owned 324,443 shares in the company, valued at approximately $193,439,405.46. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 393,228 shares of company stock valued at $207,340,321. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp lifted its holdings in shares of United Therapeutics by 2,400.0% in the second quarter. Toth Financial Advisory Corp now owns 50 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 48 shares in the last quarter. Fiduciary Financial Advisors bought a new position in shares of United Therapeutics during the second quarter worth about $30,000. Gen Wealth Partners Inc acquired a new stake in United Therapeutics in the 3rd quarter valued at approximately $34,000. Caitlin John LLC acquired a new stake in United Therapeutics in the 2nd quarter valued at approximately $37,000. Finally, International Assets Investment Management LLC lifted its stake in United Therapeutics by 426.7% in the 1st quarter. International Assets Investment Management LLC now owns 79 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 64 shares in the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about United Therapeutics

Here are the key news stories impacting United Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $725 from $697 and maintained an “outperform” rating, implying substantial upside from the price cited in the report. Tickerreport article
• Positive Sentiment: BTIG maintained its “buy” rating and lifted its target to $768 from $728, citing strong Tyvaso momentum. TipRanks article
• Positive Sentiment: Third-quarter revenue was $832.5 million, up 4.1% year over year and above analyst expectations of about $781 million. The company also announced a buydown of a royalty tied to ralinepag. Quarterly results Royalty buydown announcement
• Negative Sentiment: Adjusted earnings were $5.71 per share, missing consensus estimates and falling from $7.16 a year earlier. The earnings shortfall and year-over-year decline temper the positive revenue growth. Zacks earnings report

About United Therapeutics

United Therapeutics Corporation is a biotechnology company focused on developing and commercializing therapies for patients with life-threatening conditions, particularly pulmonary arterial hypertension (PAH). The company’s portfolio includes Tyvaso and Tyvaso DPI, inhaled formulations of treprostinil; Remodulin, an injectable treprostinil product; and Orenitram, an oral treprostinil therapy. These treatments are designed to improve exercise ability and delay disease progression in people with PAH.

The company also markets Unituxin, an antibody therapy used as part of treatment for high-risk neuroblastoma, a type of childhood cancer.