United Therapeutics initiated with an Outperform at Raymond James

Raymond James last night initiated coverage of United Therapeutics (UTHR) with an Outperform rating and $700 price target The firm believes $5B in peak sales is achievable for Tyvaso in idiopathic pulmonary fibrosis. Tyvaso’s clinical benefit on top of either standard of care agent “makes it a straightforward add-on agent,” the analyst tells investors in a research note. Raymond James believes the trajectory of Tyvaso’s base business “is stabilization, not erosion.”