United Therapeutics (NASDAQ:UTHR) Reaches New 52-Week High on Earnings Beat

Shares of United Therapeutics Corporation (NASDAQ:UTHR) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $530.00 and last traded at $514.3560, with a volume of 243263 shares changing hands. The stock had previously closed at $473.43.

The biotechnology company reported $7.70 EPS for the quarter, topping the consensus estimate of $6.73 by $0.97. The company had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $814.80 million. United Therapeutics had a net margin of 40.65% and a return on equity of 18.83%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $6.19 earnings per share.

Wall Street Analyst Weigh In

Several research analysts have weighed in on UTHR shares. Royal Bank Of Canada upped their target price on United Therapeutics from $569.00 to $587.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. UBS Group restated a “buy” rating on shares of United Therapeutics in a report on Tuesday, February 17th. Morgan Stanley set a $447.00 price objective on shares of United Therapeutics in a research report on Wednesday, October 29th. HC Wainwright boosted their target price on shares of United Therapeutics from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of United Therapeutics in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, United Therapeutics has an average rating of “Moderate Buy” and an average target price of $509.50.

Insiders Place Their Bets

In related news, EVP Paul A. Mahon sold 8,300 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $476.34, for a total transaction of $3,953,622.00. Following the transaction, the executive vice president owned 36,781 shares of the company’s stock, valued at approximately $17,520,261.54. The trade was a 18.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Benkowitz sold 14,440 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $472.13, for a total transaction of $6,817,557.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 410,954 shares of company stock valued at $199,032,088 over the last 90 days. 10.30% of the stock is owned by corporate insiders.

Institutional Trading of United Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in UTHR. AXQ Capital LP grew its position in United Therapeutics by 495.4% in the second quarter. AXQ Capital LP now owns 3,888 shares of the biotechnology company’s stock valued at $1,117,000 after purchasing an additional 3,235 shares in the last quarter. AE Wealth Management LLC lifted its position in United Therapeutics by 396.3% during the 3rd quarter. AE Wealth Management LLC now owns 4,288 shares of the biotechnology company’s stock worth $1,798,000 after buying an additional 3,424 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in shares of United Therapeutics by 194.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 4,503 shares of the biotechnology company’s stock worth $1,888,000 after buying an additional 2,975 shares during the last quarter. Optimize Financial Inc bought a new position in shares of United Therapeutics in the 3rd quarter valued at about $444,000. Finally, Simplify Asset Management Inc. bought a new position in shares of United Therapeutics in the 3rd quarter valued at about $8,351,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

United Therapeutics Price Performance

The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.53 and a beta of 0.85. The business has a 50-day moving average of $484.23 and a 200-day moving average of $443.45.

About United Therapeutics

United Therapeutics Corporation (NASDAQ: UTHR) is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company’s primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.