Zacks cut shares of United Therapeutics Corp. (NASDAQ:UTHR) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, American Banking News reports. The firm currently has $95.00 price target on the stock.
Zacks’ analyst wrote, “United Therapeutics’ third quarter 2013 results were mixed with EPS declining 19.9% and missing the Zacks Consensus Estimate of $1.67, and revenues increasing 24.6% to $302.2 million, beating the Zacks Consensus Estimate of $277 million. We believe the company is well-positioned to gain share in the PAH market. Lead product, Remodulin, continues to look very strong in both the IV and SC forms. Tyvaso and Adcirca should also contribute significantly to revenues as patient acceptance increases. Tyvaso’s performance has been improving and the product is on track to overtake Remodulin revenues in the next few quarters. However, with the company missing third quarter earnings estimates by a huge margin, our 2013 estimate has gone down by 48 cents. We are also moving back to a Neutral recommendation as we do not see any potential near-term catalysts that could drive the stock. “
In other United Therapeutics Corp. news, Director Raymond Dwek sold 3,000 shares of the stock on the open market in a transaction dated Friday, November 1st. The shares were sold at an average price of $89.18, for a total transaction of $267,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of United Therapeutics Corp. (NASDAQ:UTHR) traded down 0.20% during mid-day trading on Monday, hitting $89.93. 695,839 shares of the company’s stock traded hands. United Therapeutics Corp. has a 52 week low of $47.64 and a 52 week high of $90.73. The stock has a 50-day moving average of $82.39 and a 200-day moving average of $72.49. The company has a market cap of $4.517 billion and a price-to-earnings ratio of 16.37.
United Therapeutics Corp. (NASDAQ:UTHR) last announced its earnings results on Tuesday, October 29th. The company reported $2.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.59 by $1.39. The company had revenue of $302.20 million for the quarter, compared to the consensus estimate of $279.02 million. During the same quarter in the previous year, the company posted $2.82 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts predict that United Therapeutics Corp. will post $5.49 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush raised their price target on shares of United Therapeutics Corp. from $91.00 to $101.00 in a research note to investors on Wednesday, October 30th. Separately, analysts at RBC Capital raised their price target on shares of United Therapeutics Corp. from $63.00 to $68.00 in a research note to investors on Wednesday, October 30th. They now have a sector perform rating on the stock. Finally, analysts at Leerink Swann raised their price target on shares of United Therapeutics Corp. from $68.00 to $89.00 in a research note to investors on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $79.69.
United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening conditions.
To view Zacks’ full report, visit www.zacks.com
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