United Therapeutics price target lowered to $346 from $354 at Morgan Stanley

Morgan Stanley analyst Terence Flynn lowered the firm’s price target on United Therapeutics (UTHR) to $346 from $354 and keeps an Equal Weight rating on the shares. Shares traded down 11% on the back of Q4 results, which the firm sees as likely driven by the Tyvaso miss, potentially coupled with the fact that the next event could be FDA action on Liquidia’s (LQDA) competitive product, Yutrepia, later this year. Following the report, the firm made “modest adjustments” to its estimates, the analyst noted.