United Therapeutics (NASDAQ:UTHR) Sets New 52-Week High – Here’s What Happened

Shares of United Therapeutics Corporation (NASDAQ:UTHR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $459.48 and last traded at $456.84, with a volume of 610683 shares changing hands. The stock had previously closed at $453.28.

Analyst Ratings Changes

Several brokerages have recently commented on UTHR. Cantor Fitzgerald increased their target price on shares of United Therapeutics from $405.00 to $525.00 and gave the company an “overweight” rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. lowered their target price on shares of United Therapeutics from $350.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, July 8th. UBS Group increased their target price on shares of United Therapeutics from $560.00 to $580.00 and gave the company a “buy” rating in a report on Monday, September 29th. Jefferies Financial Group increased their target price on shares of United Therapeutics from $432.00 to $564.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, Bank of America increased their price target on shares of United Therapeutics from $314.00 to $463.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $449.57.

United Therapeutics Stock Up 0.8%

The stock has a market cap of $20.61 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 6.91 and a beta of 0.66. The business’s 50-day simple moving average is $362.60 and its two-hundred day simple moving average is $320.98.

United Therapeutics (NASDAQ:UTHR) last issued its earnings results on Wednesday, July 30th. The biotechnology company reported $6.41 earnings per share for the quarter, missing analysts’ consensus estimates of $6.80 by ($0.39). The business had revenue of $798.60 million for the quarter, compared to the consensus estimate of $802.13 million. United Therapeutics had a return on equity of 18.73% and a net margin of 40.36%.United Therapeutics’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.85 EPS. Analysts anticipate that United Therapeutics Corporation will post 24.48 earnings per share for the current fiscal year.

Insider Transactions at United Therapeutics

In other United Therapeutics news, EVP Paul A. Mahon sold 11,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $308.75, for a total transaction of $3,396,250.00. Following the completion of the transaction, the executive vice president owned 36,781 shares in the company, valued at $11,356,133.75. This trade represents a 23.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Benkowitz sold 22,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $417.64, for a total transaction of $9,396,900.00. The disclosure for this sale can be found here. Insiders have sold 264,935 shares of company stock valued at $105,282,642 in the last quarter. Company insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On United Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTHR. XTX Topco Ltd bought a new position in shares of United Therapeutics in the first quarter valued at approximately $313,000. Allianz Asset Management GmbH boosted its position in shares of United Therapeutics by 96.9% in the first quarter. Allianz Asset Management GmbH now owns 67,576 shares of the biotechnology company’s stock valued at $20,832,000 after acquiring an additional 33,254 shares during the period. LPL Financial LLC boosted its position in shares of United Therapeutics by 77.3% in the first quarter. LPL Financial LLC now owns 25,246 shares of the biotechnology company’s stock valued at $7,783,000 after acquiring an additional 11,007 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of United Therapeutics by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,678 shares of the biotechnology company’s stock valued at $1,129,000 after acquiring an additional 376 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in shares of United Therapeutics in the first quarter valued at approximately $227,000. Institutional investors own 94.08% of the company’s stock.

About United Therapeutics

United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. The company offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients.