On Thursday, Ladenburg Thalmann updated its financial outlook on United Therapeutics Corp . (NASDAQ:UTHR), raising the price target to $344 from the previous $319, while maintaining a Neutral rating on the stock. This adjustment follows the release of the company's third-quarter financial results for 2024.
United Therapeutics reported total revenues of $748.9 million for the third quarter, a figure that slightly surpassed Ladenburg's estimate of $746.5 million. This revenue represents a notable increase from the $609.4 million recorded in the same quarter of the previous year, primarily due to the heightened sales of treprostinil-based products.
However, not all products met the firm's sales expectations. Remodulin sales reached $128.3 million, falling short of both Ladenburg's projection of $150.2 million and the consensus estimate of $140.4 million. On the other hand, Tyvaso sales exceeded expectations, with total sales amounting to $433.8 million against Ladenburg's forecast of $418.1 million and the consensus of $421.5 million. The Tyvaso Dry Powder Inhaler (DPI) was a significant contributor to this figure, with sales of $274.6 million.
Orenitram sales also presented a mixed outcome, with a reported $113.2 million in sales. This was below Ladenburg's estimate of $114.6 million but exceeded the consensus estimate of $105.7 million. Additionally, Unituxin sales outperformed expectations, generating $61.1 million compared to Ladenburg's estimate of $57.9 million and the consensus of $53.7 million. Sales of Adcirca were reported at $7.0 million.
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