United Therapeutics (UTHR) PT Cut To $155 At Oppenheimer After Esuberaprost Combo Misses

Oppenheimer analyst, Hartaj Singh, reiterated his Outperform rating on shares of United Therapeutics Corp. (NASDAQ: UTHR) but cut his price target to $155.00 (from $160.00) after reported negative results from its Phase 3 BEAT study of oral Esuberaprost in combination with Tyvaso (treprostinil).

The analyst stated "The study did not meet its primary endpoint of delayed time to first clinical worsening event, leading to UTHR's discontinuation of esuberaprost development. While the disappointing results from the BEAT study mute our growth prospects for Tyvaso, we note that Tyvaso growth from BEAT had accounted for about 3-5% of our model; which we now remove. Despite the disappointing results, we continue to see UTHR in a trough year for sales/earnings with an emerging pipeline highlighted from our 2019 OPCO Healthcare Conference Update. We updated our model and stay bullish".

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 $113.92 yesterday.

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