United Therapeutics price target lowered to $314 from $328 at BofA

BofA lowered the firm’s price target on United Therapeutics (UTHR) to $314 from $328 and keeps an Underperform rating on the shares. The firm thinks the challenges to owning United in 2025 are “three-fold,” telling investors that Insmed’s (INSM) Phase 2 PAH data mid-25 for TPIP, a potential once-daily prostacyclin, could de-risk the competitor if initial data are substantiated in a larger data sample; citing Liquidia’s (LQDA) May launch of Yutrepia, a direct competitor to Tyvaso in the inhaled prostacyclin space; and arguing that the company’s Phase 3 IPF study is “high risk.”