Assenagon Asset Management S.A. Purchases 22,555 Shares of United Therapeutics Corporation $UTHR

Key Points

• Assenagon Asset Management increased its stake in United Therapeutics by 91.6% in the first quarter, buying 22,555 additional shares to bring its total to 47,183 shares worth about $28.0 million.
• United Therapeutics reported Q1 earnings below expectations, posting $5.82 EPS versus the $7.00 consensus and revenue of $781.5 million versus the expected $797.4 million.
• Analysts remain largely positive on the stock, with 11 Buy ratings and 2 Hold ratings; the consensus price target is $619.42, and Wells Fargo recently raised its target to $735 while upgrading the shares to overweight.

Assenagon Asset Management S.A. boosted its holdings in shares of United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 91.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,183 shares of the biotechnology company's stock after acquiring an additional 22,555 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of United Therapeutics worth $27,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in United Therapeutics in the fourth quarter valued at $26,000. Activest Wealth Management increased its stake in shares of United Therapeutics by 1,400.0% in the 4th quarter. Activest Wealth Management now owns 60 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 56 shares in the last quarter. WealthCollab LLC lifted its position in shares of United Therapeutics by 55.9% during the 2nd quarter. WealthCollab LLC now owns 106 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 38 shares during the period. Rakuten Securities Inc. boosted its stake in United Therapeutics by 76.7% during the second quarter. Rakuten Securities Inc. now owns 106 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 46 shares in the last quarter. Finally, Entrust Financial LLC acquired a new stake in United Therapeutics in the fourth quarter worth $31,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

United Therapeutics Price Performance

Shares of NASDAQ UTHR opened at $542.66 on Friday. United Therapeutics Corporation has a 1 year low of $272.12 and a 1 year high of $609.35. The stock has a market cap of $23.04 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.79 and a beta of 0.57. The firm has a 50-day moving average of $561.23 and a 200 day moving average of $525.58.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 EPS for the quarter, missing analysts' consensus estimates of $7.00 by ($1.18). The company had revenue of $781.50 million during the quarter, compared to the consensus estimate of $797.40 million. United Therapeutics had a return on equity of 19.24% and a net margin of 40.62%.The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $6.63 EPS. Research analysts expect that United Therapeutics Corporation will post 26.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company raised United Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $575.00 to $735.00 in a research report on Thursday, May 7th. TD Cowen reiterated a "buy" rating on shares of United Therapeutics in a research note on Thursday, May 21st. Cantor Fitzgerald lifted their price objective on shares of United Therapeutics from $525.00 to $625.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Royal Bank Of Canada decreased their price target on United Therapeutics from $707.00 to $701.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $516.00 price objective on shares of United Therapeutics in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, United Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $619.42.

Insider Buying and Selling at United Therapeutics

In related news, CFO James Edgemond sold 10,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $558.40, for a total transaction of $5,584,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,876 shares of the company's stock, valued at approximately $10,540,358.40. This represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 643,218 shares of company stock worth $363,705,304 in the last three months. 8.60% of the stock is currently owned by corporate insiders.

About United Therapeutics

United Therapeutics Corporation NASDAQ: UTHR is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company's primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.

Want to see what other hedge funds are holding UTHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Therapeutics Corporation (NASDAQ:UTHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.