BofA raised the firm’s price target on United Therapeutics (UTHR) to $463 from $314 and keeps a Neutral rating on the shares after the company reported “surprisingly positive” Phase 3 results from the TETON-2 trial. Given that idiopathic pulmonary fibrosis is an orphan disease, the firm would expect seven years of orphan drug exclusivity blocking any similarly dosed treprostinil, such as Liquidia’s (LQDA) Yutrepia, and now includes $2.5B risk-adjusted peak sales in IPF in its United model, the analyst tells investors.
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