United Therapeutics (UTHR) Price Target Raised to $141 at Wedbush

Wedbush maintained an Outperform rating on United Therapeutics Corp. (NASDAQ: UTHR) and raised its price target to $141.00 (from $133.00). Earlier a judge upheld a patent related to Remudulin (more here).

"A headline on a news service announced that the US District Court ruled that Remodulin patents ‘007 and ‘117 are not invalid. Although it was also ruled that Sandoz ANDA does not infringe the ‘007 patent, it does infringe the ‘117 patent and the FDA will not approve Sandoz’ generic Remodulin until after expiration on 10/24/2017. The ‘007 patent refers to US 7,999,007 which has a drug product claim in the FDA Orange Book and expires 3/29/2029. The ‘117 patent refers to US 6,765,117 expiring 10/24/2017 and has a drug substance claim. The other Orange Book listed patent with a drug substance claim is US 8,497,393 expiring 12/15/2028. Other Orange Book listed Remodulin patents include US 5,153,222 expiring 10/6/2014, US 8,653,137 and US 8,658,694 both expiring 9/5/2028," said analyst Liana Moussatos.

"We have increased our Remodulin projections from Q4 2014 to Q4 2017 by eliminating our estimated generic erosion impact. This increased our 2014 Remodulin and product sales projections," added the analyst.

For an analyst ratings summary and ratings history on United Therapeutics Corp. click here. For more ratings news on United Therapeutics Corp. click here.

Shares of United Therapeutics Corp. closed at $91.69 yesterday.

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