Zacks Investment Research downgraded shares of United Therapeutics Corporation (UTHR) from NEUTRAL to UNDERPERFORM on November 21, 2014, with a target price of $117.00.
United Therapeutics' third-quarter results were disappointing with the company missing expectations by a wide margin. The company reported a loss of $0.53 per share, well below the year-ago earnings of $1.17 per share and the Zacks Consensus Estimate for the quarter was earnings of $1.84. The revenue miss is concerning especially with Tyvaso sales remaining flat on a sequential basis. With 2014 estimates declining significantly following the release of third quarter results, we are downgrading the stock to Underperform. We believe the company needs to use cash suitably to deal with generic competition for Remodulin post Oct 2017. We expect investor focus to remain on Orenitram sales ramp and pipeline updates.
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