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United Therapeutics
(NASDAQ:UTHR)
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Rating:82Outperform
Price Target:
$629.00
▲(6.90% Upside)
Action:Reiterated
Date:06/30/26
The score is driven primarily by strong financial quality (very high margins, strong cash generation, and a debt-free balance sheet) and a bullish earnings-call outlook with major clinical wins and multiple upcoming regulatory catalysts. Offsetting these positives are the sharp recent TTM revenue decline and limited technical-indicator visibility, while valuation appears reasonable rather than notably cheap.
Positive Factors
Very high profitability margins
Exceptionally high gross and operating margins reflect durable pricing power and a high-margin product mix centered on prostacyclin therapies. These margins provide long-term cash generation buffers to fund R&D and launches even if revenue growth lags, supporting sustainability over months.
Negative Factors
Sharp recent TTM revenue decline
A large trailing-twelve-month revenue drop signals material demand, pricing or volume disruption that can erode durability of earnings despite strong margins. If sustained, top-line weakness would pressure reinvestment plans and targets tied to new-product launches, making near-term growth assumptions less certain.
Read all positive and negative factors
Positive Factors
Negative Factors
Very high profitability margins
Exceptionally high gross and operating margins reflect durable pricing power and a high-margin product mix centered on prostacyclin therapies. These margins provide long-term cash generation buffers to fund R&D and launches even if revenue growth lags, supporting sustainability over months.
Read all positive factors
United Therapeutics Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows where United Therapeutics earns its sales and highlights dependence on key markets—typically the U.S. versus international regions—so you can judge how sensitive revenue is to U.S. reimbursement decisions, regional regulatory shifts, and currency moves. A heavy U.S. skew signals vulnerability to domestic pricing and payer actions, while growing ex‑U.S. sales point to new patient pools and diversification of risk.
Shows where United Therapeutics earns its sales and highlights dependence on key markets—typically the U.S. versus international regions—so you can judge how sensitive revenue is to U.S. reimbursement decisions, regional regulatory shifts, and currency moves. A heavy U.S. skew signals vulnerability to domestic pricing and payer actions, while growing ex‑U.S. sales point to new patient pools and diversification of risk.
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The Fly
The FlyUnited Therapeutics (UTHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.53B
Dividend YieldN/A
Average Volume (3M)512.67K
Price to Earnings (P/E)18.9
Beta (1Y)0.52
Revenue Growth5.87%
EPS Growth8.18%
CountryUS
Employees1,305
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)29.27
Shares Outstanding42,446,730
10 Day Avg. Volume435,562
30 Day Avg. Volume512,669
Financial Highlights & Ratios
PEG Ratio1.16
Price to Book (P/B)3.04
Price to Sales (P/S)6.78
P/FCF Ratio20.74
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue7.05
Enterprise Value/Gross Profit8.14
Enterprise Value/Ebitda13.03
Forecast
1Y Price Target
$663.13Price Target Upside12.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)28.06
Revenue Forecast (FY)$3.25B
United Therapeutics Business Overview & Revenue Model
Company Description
United Therapeutics Corporation, a biotechnology firm, is dedicated to discovering, developing, and bringing to market medical solutions for individuals suffering from chronic and severe, often life-threatening, illnesses. Its operations span both...
How the Company Makes Money
United Therapeutics primarily makes money by selling prescription pharmaceutical products, with the large majority of revenue historically derived from its PAH franchise. Key revenue streams include: (1) Product sales to specialty pharmacies, dist...
United Therapeutics Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call communicated strong clinical and commercial momentum: major positive clinical readouts (ADVANCE OUTCOMES and TETON 1/2), concrete revenue figures ($782M total; $458M Tyvaso) and clear growth drivers (Tyvaso DPI adoption, ralinepag oral and inhaled programs, RALDPI moving into Phase I). Operational headwinds and several regulatory/development uncertainties were acknowledged but described as addressed or manageable. On balance, the highlights—particularly the transformative phase III results and multiple near-term regulatory milestones—substantially outweigh the quarter-specific operational issues and the normal regulatory risks associated with new-device/formulation filings.Positive Updates
Q1 2026 Revenue and Near-Term Growth Outlook
Total revenue of $782 million in Q1 2026 with Tyvaso revenue of $458 million. Company expects to return to sequential growth in the near term and targets a revenue run rate moving from $3 billion to $4 billion by the end of 2027.
Negative Updates
Seasonal and Operational Headwinds Impacted Q1 Sales
Typical seasonality plus severe winter weather and pharmacy operations issues slowed new patient starts in the quarter—particularly in February—and negatively impacted Q1 sales. Management stated these issues have been rectified.
Read all updates
Q1-2026 Updates
Positive
Negative
Q1 2026 Revenue and Near-Term Growth Outlook
Total revenue of $782 million in Q1 2026 with Tyvaso revenue of $458 million. Company expects to return to sequential growth in the near term and targets a revenue run rate moving from $3 billion to $4 billion by the end of 2027.
Read all positive updates
Company Guidance
The company reiterated concrete near‑term commercial and regulatory guidance: Q1 2026 total revenue was $782 million with Tyvaso revenue of $458 million (Tyvaso DPI delivered ~9% YoY growth), patient shipments have grown for the last 5 months, and referral/prescription rates are roughly back to pre‑YUTREPIA levels; management expects a return to sequential growth and sustained double‑digit long‑term growth. Regulatory milestones include filing a nebulized Tyvaso supplemental NDA by the end of this summer (possible priority review; with a standard review they expect launch by Q2 next year) and an anticipated oral ralinepag launch mid‑next year assuming a smooth FDA review. Clinical and product timing metrics for inhaled ralinepag (RALDPI): the program was initiated ~6 months ago, formulation and tox‑supply work are complete, a positive pre‑IND meeting was held, an IND/Phase I study is expected to be completed before year‑end, and broader PAH/IPF/PH‑ILD development will follow. Efficacy and market assumptions cited include a p‑value <0.0001 for the two recent pivotal results, a three‑fold reduction in PAH disease progression on ralinepag versus background therapy (durable through 4 years with superior hazard ratios), an expectation that ralinepag will double PAH patients to >30,000 within two years of launch, a current revenue run‑rate target moving from $3 billion to $4 billion by end‑2027, and management’s view that the combined new approvals could more than double that run rate.United Therapeutics Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.17B | 3.18B | 2.88B | 2.33B | 1.94B | 1.69B |
| Gross Profit | 2.74B | 2.80B | 2.57B | 2.07B | 1.79B | 1.56B |
| EBITDA | 1.71B | 1.82B | 1.65B | 1.39B | 1.04B | 736.80M |
| Net Income | 1.29B | 1.33B | 1.20B | 984.80M | 727.30M | 475.80M |
Balance Sheet | ||||||
| Total Assets | 6.71B | 7.88B | 7.36B | 7.17B | 6.04B | 5.17B |
| Cash, Cash Equivalents and Short-Term Investments | 2.15B | 1.56B | 3.27B | 2.99B | 2.84B | 1.93B |
| Total Debt | 0.00 | 0.00 | 300.00M | 700.00M | 800.00M | 800.00M |
| Total Liabilities | 813.10M | 783.80M | 920.00M | 1.18B | 1.25B | 1.21B |
| Stockholders Equity | 5.90B | 7.10B | 6.44B | 5.98B | 4.80B | 3.96B |
Cash Flow | ||||||
| Free Cash Flow | 1.02B | 1.04B | 1.08B | 747.60M | 663.70M | 477.40M |
| Operating Cash Flow | 1.56B | 1.56B | 1.33B | 978.00M | 802.50M | 598.20M |
| Investing Cash Flow | 357.10M | -551.30M | 417.20M | -719.60M | -811.50M | -486.90M |
| Financing Cash Flow | -2.54B | -1.15B | -1.25B | -11.90M | 75.40M | 44.80M |
United Therapeutics Technical Analysis
Positive
588.38
Price Trends
558.38
Negative
547.47
Positive
507.06
Positive
Market Momentum
-0.47
Negative
50.77
Neutral
75.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UTHR, the sentiment is Positive. The current price of 588.38 is above the 20-day moving average (MA) of 547.38, above the 50-day MA of 558.38, and above the 200-day MA of 507.06, indicating a neutral trend. The MACD of -0.47 indicates Negative momentum. The RSI at 50.77 is Neutral, neither overbought nor oversold. The STOCH value of 75.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UTHR.
United Therapeutics Risk Analysis
United Therapeutics disclosed 32 risk factors in its most recent earnings report. United Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
United Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $14.10B | 18.30 | 40.21% | ― | 3.33% | 38.64% | |
82 Outperform | $23.53B | 18.88 | 19.24% | ― | 5.87% | 8.18% | |
81 Outperform | $23.43B | 16.24 | 29.31% | ― | 21.48% | 1853.63% | |
71 Outperform | $11.55B | 42.84 | 4.41% | ― | 12.53% | -49.09% | |
63 Neutral | $17.30B | 22.19 | 14.53% | ― | 21.02% | -24.83% | |
61 Neutral | $17.29B | 29.41 | -5641.90% | ― | 155.14% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
UTHR
United Therapeutics
552.48
256.96
86.95%
BMRN
BioMarin Pharmaceutical
59.97
1.87
3.22%
EXEL
Exelixis
57.10
12.24
27.28%
INCY
Incyte
118.52
49.93
72.79%
ASND
Ascendis Pharma
275.43
100.47
57.42%
GMAB
Genmab
29.78
8.38
39.16%
United Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
United Therapeutics Shareholders Endorse 2026 Governance and Pay
Positive
Jun 29, 2026
At United Therapeutics’ 2026 Annual Meeting of Shareholders held on June 26, 2026, investors approved the election of all nominated directors to one-year terms, with each candidate receiving strong support despite some varying levels of oppo...
Business Operations and StrategyProduct-Related Announcements
United Therapeutics’ Tyvaso Shows Pivotal Success in IPF
Positive
Mar 30, 2026
On March 30, 2026, United Therapeutics reported that its 598-patient phase 3 TETON-1 trial of nebulized Tyvaso in idiopathic pulmonary fibrosis met its primary endpoint, showing a 130.1 mL advantage in forced vital capacity over placebo at 52 week...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.