United Therapeutics price target lowered to $328 from $348 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on United Therapeutics (UTHR) to $328 from $348 and keeps an Equal Weight rating on the shares. Year-to-date, large cap pharma and biotech companies have both underperformed given the macro environment, while multiple areas of policy uncertainty remain, including drug pricing dynamics, tariff and transfer pricing exposure, and FDA staffing changes, the analyst tells investors in a research note. The firm is modeling Tyvaso/total revenue of $442M/$768M vs. consensus expectations of $483M/$805M.