Citadel Securities Maintains a 'Neutral' on United Therapeutics (UTHR); Tyvaso Growth Returns, but We Remain Cautious Ahead of FREEDOM-C2 Data

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Citadel Securities maintains a 'Neutral' on United Therapeutics Corp. (NASDAQ: UTHR) price target of $60.

Citadel analyst says, "We are slightly raising our Tyvaso sales estimates in 2H11, but maintain our estimates in 2012 and beyond as we would like to see the 2Q11 sales growth continue before becoming more aggressive. We now estimate 2011 Tyvaso sales of $238.4MM, up from our previous $225.2MM estimate. With R&D charges in 3Q11 of $50MM for a restructuring of the Beraprost-MR agreement and a $5MM licensing payment to Pluristem, we are lowering our 3Q11 GAAP EPS estimate to $0.02 from $0.63. Our 2011 GAAP EPS estimate increases to $2.19 from $2.15 after 2Q11 EPS outperformance due to the favorable impact from stock compensation and higher Tyvaso sales."

For more ratings news on United Therapeutics Corp. click here and for the rating history of United Therapeutics Corp. click here.

Shares of United Therapeutics Corp. closed at $54.65 yesterday, with a 52 week range of $46.14-$70.74.

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