Auriga Starts United Therapeutics Corp. (UTHR) at Buy
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Price: $476.59 +0.93%
Rating Summary:
17 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 18
Rating Summary:
17 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 18
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Auriga assumes coverage on United Therapeutics Corp. (NASDAQ: UTHR) with a Buy rating and $90 price target.
"UTHR reported 1Q11 revenues that were once again below both our and the Street estimates. Management blamed a number of factors including weather, inventory drawdowns, and general lumpiness. Specifically, IV/SQ Remodulin grew 8% Y/Y and was up 1% sequentially. However, Tyvaso was flat sequentially for the third straight quarter and Adcirca declined 12% sequentially. UTHR reiterated timelines for the closely watched FREEDOM-M trial (read out in June) and FREEDOM-C2 (read out in September). UTHR provided initial guidance for 2011, 2012 and 2013 of $750MM, $875MM and $1,000MM (+/- 5%) -- levels modestly below Street expectations (do not include oral Remodulin). Overall, we view the weakness around the quarter as a buying opportunity ahead of the June release of the potentially transformative FREEDOM-M data. We reiterate our Buy and $90 price target."
For more ratings news on United Therapeutics Corp. click here and for the rating history of United Therapeutics Corp. click here.
Shares of United Therapeutics Corp. closed at $67.66 yesterday.
"UTHR reported 1Q11 revenues that were once again below both our and the Street estimates. Management blamed a number of factors including weather, inventory drawdowns, and general lumpiness. Specifically, IV/SQ Remodulin grew 8% Y/Y and was up 1% sequentially. However, Tyvaso was flat sequentially for the third straight quarter and Adcirca declined 12% sequentially. UTHR reiterated timelines for the closely watched FREEDOM-M trial (read out in June) and FREEDOM-C2 (read out in September). UTHR provided initial guidance for 2011, 2012 and 2013 of $750MM, $875MM and $1,000MM (+/- 5%) -- levels modestly below Street expectations (do not include oral Remodulin). Overall, we view the weakness around the quarter as a buying opportunity ahead of the June release of the potentially transformative FREEDOM-M data. We reiterate our Buy and $90 price target."
For more ratings news on United Therapeutics Corp. click here and for the rating history of United Therapeutics Corp. click here.
Shares of United Therapeutics Corp. closed at $67.66 yesterday.
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