United Therapeutics price target raised to $400 from $375 at Oppenheimer

Oppenheimer analyst Hartaj Singh raised the firm’s price target on United Therapeutics to $400 from $375 and keeps an Outperform rating on the shares following quarterly results. The firm notes the company beat its expectations handily. All products grew year-over-year in Q1, with total revenue growth of 34%. The company did not see any of its typical Q1 seasonality and attributes part of its Q1 revenue strength to increasing referrals and new patient starts for Tyvaso; and the IRA Medicare Part D redesign, which increased commercial utilization for United Therapeutics’ drugs.