United Therapeutics price target raised to $262 from $220 at BofA

BofA raised the firm’s price target on United Therapeutics (UTHR) to $262 from $220 and keeps an Underperform rating on the shares. The firm’s PAH/ILD physician survey shows that Merck’s (MRK) Winrevair launch is unlikely to negatively impact inhaled prostacyclins, which is good for Tyvaso DPI in the near- and medium-term but does not negate other competitive headwinds, the analyst tells investors in a research note. Survey respondents also expect Winrevair to meaningfully reduce use of infused and oral prostacyclins, a potential headwind for United’s Remodulin and Orenitram, respectively, BofA says.