United Therapeutics (NASDAQ:UTHR) Now Covered by HC Wainwright

Key Points

• HC Wainwright initiated coverage of United Therapeutics with a Buy rating and a $660 price target, implying 17.43% upside from the prior close.
• Analyst consensus is “Moderate Buy,” with a $676.40 average price target; 13 analysts rate the stock Buy, two Hold, and one Sell.
• Latest quarterly revenue rose 4.1% year over year to $832.5 million, beating estimates, while EPS of $5.71 fell short of the $6.01 consensus. The board also approved a $2 billion share repurchase plan.

Analysts at HC Wainwright began coverage on shares of United Therapeutics (NASDAQ:UTHR - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $660.00 price target on the biotechnology company's stock. HC Wainwright's price objective would indicate a potential upside of 17.43% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. UBS Group set a $725.00 price target on United Therapeutics in a research report on Monday, October 19th. JPMorgan Chase & Co. lowered their price objective on United Therapeutics from $710.00 to $695.00 and set an "overweight" rating for the company in a research report on Wednesday, October 28th. Jefferies Financial Group reissued a "buy" rating and set a $728.00 price objective on shares of United Therapeutics in a research report on Wednesday, October 14th. Wells Fargo & Company upped their target price on shares of United Therapeutics from $700.00 to $703.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Raymond James Financial set a $720.00 target price on shares of United Therapeutics in a report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, United Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $676.40.

United Therapeutics Stock Performance

Shares of NASDAQ UTHR opened at $562.02 on Monday. The stock has a market cap of $23.94 billion, a P/E ratio of 21.21, a PEG ratio of 3.78 and a beta of 0.49. United Therapeutics has a 12-month low of $444.04 and a 12-month high of $614.23. The business's fifty day simple moving average is $533.99 and its 200-day simple moving average is $533.42.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its earnings results on Wednesday, November 4th. The biotechnology company reported $5.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.01 by ($0.30). United Therapeutics had a net margin of 38.61% and a return on equity of 19.18%. The company had revenue of $832.50 million during the quarter, compared to analysts' expectations of $781.14 million. During the same quarter last year, the business posted $7.16 earnings per share. The company's revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts forecast that United Therapeutics will post 24.77 EPS for the current fiscal year.

United Therapeutics declared that its board has approved a stock repurchase plan on Thursday, October 22nd that allows the company to buy back $2 billion in outstanding shares. This repurchase authorization allows the biotechnology company to purchase up to 8.3% of its shares through open market purchases. Share repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other United Therapeutics news, EVP Paul Mahon sold 8,300 shares of United Therapeutics stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $598.67, for a total transaction of $4,968,961.00. Following the completion of the sale, the executive vice president directly owned 45,172 shares of the company's stock, valued at $27,043,121.24. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Martine Rothblatt sold 1,960 shares of the company's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $597.76, for a total value of $1,171,609.60. Following the transaction, the chief executive officer directly owned 324,443 shares of the company's stock, valued at approximately $193,939,047.68. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 401,528 shares of company stock worth $213,440,124. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On United Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Callan Family Office LLC acquired a new position in shares of United Therapeutics during the 2nd quarter worth approximately $1,217,000. Andra AP fonden grew its holdings in United Therapeutics by 33.5% during the 2nd quarter. Andra AP fonden now owns 34,904 shares of the biotechnology company's stock valued at $18,912,000 after buying an additional 8,760 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in United Therapeutics during the 2nd quarter valued at $3,359,000. Partners Capital Investment Group LLP acquired a new stake in United Therapeutics during the 2nd quarter valued at $1,691,000. Finally, Palo Alto Investors LP acquired a new stake in United Therapeutics during the 2nd quarter valued at $33,911,514. Hedge funds and other institutional investors own 94.08% of the company's stock.

United Therapeutics Company Profile

United Therapeutics is a biotechnology company that develops and commercializes treatments for serious diseases, with a primary focus on pulmonary arterial hypertension (PAH). Its therapies include treprostinil products delivered by injection, inhalation, or oral tablet, marketed under brands including Remodulin, Tyvaso, and Orenitram. The company also markets Unituxin, a treatment for high-risk neuroblastoma.

Founded in 1996 by Martine Rothblatt, United Therapeutics is also pursuing technologies intended to address the shortage of transplantable organs.

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