United Therapeutics (NASDAQ:UTHR) Announces Earnings Results, Misses Expectations By $1.18 EPS

Key Points

• United Therapeutics missed Q1 expectations, reporting EPS of $5.82 vs. a $7.00 consensus and revenue of $781.5M vs. $797.4M, with revenue down ~1.6% year‑over‑year.
• Clinical catalysts remain strong: ADVANCE outcomes showed ralinepag cut PAH disease progression threefold (durable to four years) with FDA review/launch expected next year, and nebulized TYVASO showed FVC gains in IPF with a supplemental NDA planned by end of summer—management projects these programs could drive multi‑billion dollar upside.
• Shares rose ~4% despite the miss and analysts are mostly constructive (consensus “Moderate Buy,” avg target ≈ $601.50), but recent insider selling and the earnings shortfall are notable near‑term negatives.

United Therapeutics (NASDAQ:UTHR - Get Free Report) issued its earnings results on Wednesday. The biotechnology company reported $5.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.00 by ($1.18), FiscalAI reports. The firm had revenue of $781.50 million during the quarter, compared to analysts' expectations of $797.40 million. United Therapeutics had a return on equity of 19.30% and a net margin of 41.94%.The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.63 EPS.

Here are the key takeaways from United Therapeutics' conference call:

• United reported ADVANCE OUTCOMES showing ralinepag produced a threefold reduction in PAH disease progression versus background therapy (durable through four years); the company expects FDA review/launch next year and projects ralinepag could materially expand the PAH patient base and drive multi‑billion dollar revenue.
• TETON‑1 and TETON‑2 toplines showed nebulized TYVASO meaningfully improved FVC (over 100 mL) in IPF; United plans a supplemental NDA by end of summer, is pursuing priority review, and targets a potential Q2 next‑year launch if on a standard timeline.
• United disclosed Raldpy, an inhaled DPI form of ralinepag developed with MannKind, completed formulation work and positive pre‑IND interactions, and expects a Phase I IND/healthy‑volunteer study to be completed by year‑end, adding another high‑growth inhaled asset to its pipeline.
• Q1 2026 revenue was $782 million (TYVASO $458M); seasonal weather and pharmacy operational issues slowed patient starts in February but have been addressed, and the company expects sequential growth and a $3→$4B run rate by end‑2027 with further upside from ralinepag and IPF indications.
• Management reiterated a "multiple shots on goal" commercial and development strategy—pursuing oral, DPI, nebulized and SMI formulations (including treprostinil SMI for PH‑COPD), engaging FDA on bridging studies for device/formulation switches, and planning indication‑specific trials.

United Therapeutics Stock Up 4.0%

Shares of NASDAQ:UTHR traded up $22.94 during midday trading on Wednesday, hitting $595.14. 321,198 shares of the stock traded hands, compared to its average volume of 476,933. The business's 50 day moving average is $545.81 and its two-hundred day moving average is $499.25. The stock has a market capitalization of $25.15 billion, a PE ratio of 21.32, a P/E/G ratio of 1.65 and a beta of 0.60. United Therapeutics has a one year low of $272.12 and a one year high of $609.35.

Insider Buying and Selling

In other United Therapeutics news, CFO James Edgemond sold 10,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $527.48, for a total value of $5,274,800.00. Following the completion of the sale, the chief financial officer owned 18,876 shares in the company, valued at approximately $9,956,712.48. This trade represents a 34.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Benkowitz sold 22,500 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $474.65, for a total value of $10,679,625.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 475,655 shares of company stock valued at $259,911,459 in the last ninety days. 10.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its holdings in United Therapeutics by 66.2% in the third quarter. CIBC Private Wealth Group LLC now owns 713 shares of the biotechnology company's stock worth $299,000 after buying an additional 284 shares during the period. Jump Financial LLC purchased a new position in shares of United Therapeutics during the 2nd quarter worth approximately $277,000. Quarry LP bought a new position in shares of United Therapeutics in the 4th quarter worth approximately $268,000. Clark Capital Management Group Inc. purchased a new position in shares of United Therapeutics in the 4th quarter valued at approximately $245,000. Finally, Aptus Capital Advisors LLC purchased a new position in shares of United Therapeutics in the 4th quarter valued at approximately $225,000. 94.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UTHR shares. UBS Group upped their price objective on shares of United Therapeutics from $655.00 to $705.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Jefferies Financial Group restated a "buy" rating on shares of United Therapeutics in a research report on Monday, March 2nd. Morgan Stanley raised their price objective on United Therapeutics from $471.00 to $519.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Wells Fargo & Company lifted their price objective on United Therapeutics from $486.00 to $575.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. Finally, Cantor Fitzgerald boosted their target price on United Therapeutics from $525.00 to $625.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $601.50.

United Therapeutics News Summary

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

• Positive Sentiment: Analysts have been raising price targets and keep a mostly constructive view on UTHR (consensus ≈ Moderate Buy), which supports investor sentiment. MarketBeat UTHR Coverage
• Positive Sentiment: Company highlighted continued clinical progress—BusinessWire notes positive ADVANCE O results—helping underpin confidence in the pipeline beyond near-term quarter-to-quarter revenue fluctuations. United Therapeutics Corporation Reports First Quarter 2026 Financial Results
• Positive Sentiment: News that United Therapeutics expanded a DPI partnership (covered in the market/industry press tied to MannKind) is being read as constructive for delivery-platform strategy and potential product synergies. That deal has driven enthusiasm in related names and buoyed sentiment for UTHR. Mannkind stock surges on United Therapeutics partnership deal
• Neutral Sentiment: Large institutional ownership and periodic position adjustments (MarketBeat coverage) mean moves can be amplified by portfolio rebalancing; this underpins volatility but not an obvious directional catalyst by itself. MarketBeat UTHR Coverage
• Negative Sentiment: Q1 results missed expectations: EPS $5.82 vs. street estimates (~$7.00) and revenue $781.5M vs. est. ~$797M, with revenue down ~1–2% year-over-year—these misses are the primary near-term negative catalyst. United Therapeutics (UTHR) Misses Q1 Earnings and Revenue Estimates
• Negative Sentiment: Insider selling: CEO Martine Rothblatt and the CFO disclosed multi-thousand-share sales in early May; while sales can be routine, they can still weigh on sentiment when timed near an earnings miss. SEC Filing - Insider Sale Disclosure

United Therapeutics Company Profile

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.

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