United Therapeutics (NASDAQ:UTHR) Stock Gets Price Target Increase from TD Cowen

United Therapeutics (NASDAQ:UTHR) had its target price increased by equities research analysts at TD Cowen from $675.00 to $700.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. TD Cowen‘s price target points to a potential upside of 24.55% from the stock’s previous close.

UTHR has been the topic of several other reports. Bank of America lowered their target price on shares of United Therapeutics from $620.00 to $613.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Morgan Stanley lifted their price target on United Therapeutics from $515.00 to $566.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Royal Bank Of Canada upped their price target on United Therapeutics from $697.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group set a $725.00 price target on United Therapeutics in a research report on Monday, October 19th. Finally, BTIG Research raised their price objective on United Therapeutics from $728.00 to $768.00 and gave the company a “buy” rating in a report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $676.40.

United Therapeutics Stock Down 0.7%

Shares of NASDAQ:UTHR traded down $3.70 during trading on Thursday, hitting $562.02. 454,934 shares of the stock traded hands, compared to its average volume of 670,109. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 4.32 and a beta of 0.49. The company has a fifty day moving average price of $533.99 and a two-hundred day moving average price of $533.42. United Therapeutics has a 52-week low of $444.04 and a 52-week high of $614.23.

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

United Therapeutics announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 22nd that authorizes the company to buy back $2 billion in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 8.3% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at United Therapeutics

In related news, CEO Martine Rothblatt sold 1,960 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $597.76, for a total transaction of $1,171,609.60. Following the completion of the transaction, the chief executive officer owned 324,443 shares in the company, valued at $193,939,047.68. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Mahon sold 8,300 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $598.67, for a total transaction of $4,968,961.00. Following the completion of the transaction, the executive vice president directly owned 45,172 shares in the company, valued at $27,043,121.24. This represents a 15.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 411,028 shares of company stock valued at $218,476,169 in the last three months. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On United Therapeutics

A number of hedge funds have recently made changes to their positions in UTHR. BlackRock Inc. purchased a new position in shares of United Therapeutics in the second quarter valued at approximately $2,868,735,000. Janus Henderson Group PLC increased its position in shares of United Therapeutics by 8.9% during the first quarter. Janus Henderson Group PLC now owns 866,930 shares of the biotechnology company’s stock worth $514,016,000 after purchasing an additional 70,829 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of United Therapeutics during the second quarter worth approximately $450,140,000. First Trust Advisors LP increased its position in shares of United Therapeutics by 23.5% during the first quarter. First Trust Advisors LP now owns 270,578 shares of the biotechnology company’s stock worth $160,447,000 after purchasing an additional 51,555 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in United Therapeutics in the 2nd quarter valued at $159,522,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

Key Stories Impacting United Therapeutics

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

• Positive Sentiment: Analysts raised their price targets and kept bullish ratings. BTIG maintained a Buy rating with a $768 target, citing Tyvaso momentum; Royal Bank of Canada raised its target to $725 and TD Cowen to $700. BTIG analyst outlook
• Positive Sentiment: Third-quarter revenue increased 4.1% year over year to $832.5 million, exceeding analyst expectations of about $781 million. The company also has a $2 billion share-repurchase authorization, which could support demand for its shares.
• Negative Sentiment: Quarterly EPS of $5.71 missed the $6.01 consensus and was below $7.16 a year earlier. The earnings shortfall and year-over-year decline in EPS could offset the revenue beat.
• Negative Sentiment: CEO Martine Rothblatt reported multiple share sales, while EVP Paul Mahon sold 8,300 shares. Insider sales can unsettle investors, although both executives retained substantial holdings after their transactions. CEO sale filing EVP sale filing

United Therapeutics Company Profile

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.