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UPDATE - Canaccord Genuity Downgraded United Therapeutics (UTHR) to Hold; Sidelined on Uncertainty

April 27, 2012 11:20 AM EDT Send to a Friend
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Price: $90.85 -0.81%

Rating Summary:
    6 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 23 | New: 13
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UPDATE - Canaccord Genuity downgraded United Therapeutics Corp. (NASDAQ: UTHR) from Buy to Hold, price target lowered from $56 to $44.

Analyst, Salveen Richter, said, "While the company continues to be a solid cash-generation story, it faces the following challenges: 1) generic threats to Remodulin and Adcirca; 2) the uncertainty of oral treprostinil securing FDA approval in a monotherapy setting on its October 27 PDUFA (one positive P3 monotherapy and two failed P3 combination studies); 3) even if approved, the market potential of oral treprostinil is likely to be limited given physicians’ concern on the magnitude of benefit and their preference for combination use; 4) potential competition from ATLN’s macitentan (P3 SERAPHIN data expected in Q2/12; mortality/morbidity); and 4) a lack of near-term value-driving catalysts."

Lowers FY14 GAAP EPS estimate from $4.89 to $4.21.




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