UTHR - United Therapeutics target raised at Credit Suisse after FDA approval of Tyvaso DPI

Credit Suisse increased the price target on the commercial-stage biotech United Therapeutics (NASDAQ:UTHR) after the company and its partner MannKind (MNKD) won the U.S. approval for inhalational therapy Tyvaso DPI for two lung indications. With an Outperform rating on United (UTHR), the analysts led by Tiago Fauth argue that the approval comes without safety warnings. It allows the use of Tyvaso DPI for both pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease, and the FDA concurrently rejected a Citizen Petition filed against its approval, the firm noted. According to analysts, two more late-stage trials that United (UTHR) advances for the product targeting additional indications suggest a “substantial expansion opportunity for the Tyvaso franchise.” The price target raised to $247 from $219 per share reflects the updates to the valuation model to account for the timing of DPI sales, slower decline in the market share, and potential for label

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United Therapeutics target raised at Credit Suisse after FDA approval of Tyvaso DPI