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UPDATE: JP Morgan Downgrades United Therapeutics to Underweight

Related UTHR
United Therapeutics Gets Favorable Ruling, Shares Flying Higher
Earnings Scheduled For July 29, 2014

JP Morgan reduced its rating on United Therapeutics (NASDAQ: UTHR) from Neutral to Underweight and lowered its price target from $50 to $40.

JP Morgan commented, "We're moving to Underweight from Neutral on UTHR shares and lowering our Dec 2013 target to $40 from $50 on the back of yesterday's complete response letter (CRL) by FDA on oral Remodulin. While we recognize that oral Remodulin wasn't assumed in a lot of Street models (including ours), it was somewhat reflected in valuation and is it essentially the company's only upside driver over a 2+ year period. Given the rationale for the CRL, it doesn't seem to us that oral is approvable in the US or EU, at least not in the next 3-4 years."

United Therapeutics closed at $53.28 on Tuesday.

Latest Ratings for UTHR

DateFirmActionFromTo
Aug 2014WedbushMaintainsOutperform
Jul 2014Credit SuisseMaintainsNeutral
Jun 2014Credit SuisseUpgradesMarket PerformOutperform

View More Analyst Ratings for UTHR
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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