Jefferies sees 15%-25% move in United Therapeutics after TETON-1 study hits

Jefferies notes that United Therapeutics (UTHR)’ TETON-1 study evaluating the use of nebulized Tyvaso for the treatment of idiopathic pulmonary fibrosis met its primary efficacy endpoint, “even exceeding TETON-2.” With two “overwhelmingly positive” Phase 3 studies, the firm expects a 15%-25% stock move as investors update assumptions on overall odds of success and market penetration, says the analyst, who maintains a Buy rating and $668 price target on United Therapeutics shares.