United Therapeutics initiated with a Sell at Goldman Sachs

Goldman Sachs analyst Chris Shibutani initiated coverage of United Therapeutics with a Sell rating and $230 price target. With a DPI formulation launched and reimbursement coverage in hand, the company has potentially fewer catalysts that can drive performance of the business at levels that would be necessary to propel further outperformance of the stock, Shibutani tells investors in a research note. The analyst believes longer-term estimates likely underappreciate the potential impact of competitive dynamics within the core pulmonary arterial hypertension market, from both anticipated novel drug entrants and generics to United’s portfolio.