Morgan Stanley analyst Terence Flynn reiterated an Equalweight rating and $471.00 price target on United Therapeutics Corp. (NASDAQ: UTHR)

The analyst commented, "UTHR reported that Tyvaso met the primary endpoint in a second Ph3 idiopathic pulmonary fibrosis (IPF) trial, TETON-1 demonstrating improvement in absolute forced vital capacity (FVC) relative to placebo of 130.1mL (p<0.0001) from baseline to week 52 (LINK). The magnitude of improvement is above that observed in the first Ph3 trial, TETON-2 (LINK). We expect UTHR shares to trade up as a result... Next steps: Additional TETON-1 study results and data from the integrated analyses of TETON-1 and TETON-2 will be presented at the ATS Annual Meeting in May 2026. UTHR plans to seek priority review of a supplemental New Drug Application, to be submitted to FDA by the end of this summer, to add IPF to Tyvaso's label. We project Tyvaso 2030/2035 risk-adjusted sales in IPF of $1.2bn/$2.5bn (75% POS). We see upside to our estimates as a result of these data."

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Shares of United Therapeutics Corp. closed at $522.83 yesterday.