Wedbush Reiterates Bullish Stance on United Therapeutics (UTHR) After PMA Submitted
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Wedbush analyst Liana Moussatos reiterated an Outperform rating and $171 price target on United Therapeutics Corp. (NASDAQ: UTHR) after the company announced that Medtronic submitted to the FDA the PMA for its SynchroMed II implantable drug infusion system for use with United Therapeutics' Remodulin to treat patients with pulmonary arterial hypertension. United Therapeutics plans to submit a corresponding sNDA for Remodulin to the FDA in January 2015.
"We view the news as positive as it shows that this program is finally moving forward," Moussatos said. "We conservatively project peak sales in 2023 of $123MM."
Commenting on what's next, the analyst highlighted a potential U.S. launch of Ch.14.18 by year-end and submission of sNDA for Remodulin in January 2015.
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 $130.22 yesterday.
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