UTHR - Embedded Expectations Analysis - 2020 01 21
ï€ United Therapeutics Corporation (UTHR:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 9.8x Uniform P/E, implying bearish expectations for the firm. Moreover, management may be concerned about FDA filings and approvals, treprostinil patient targets, and Remodulinï€ Specifically, management may be concerned about the progress of FDA filings and drug approvals for Xeno-Kidney trials and their once-daily formulation of Orenitram, and they may lack confidence in their ability to reach their 10,000 treprostinil patient target. Moreover, they may be exaggerating the success of the FREEDOM-EV trial and the potential impact of Remodulin on the pulmonary hypertension population suffering from connective tissue disease. Finally, they may be overstating the potential of their rights to the humanized form of dinutuximab
United Therapeutics is a biotechnology company. The company markets and sells four commercial therapies to treat pulmonary arterial hypertension (PAH): Remodulin? (treprostinil) Injection; Tyvaso? (treprostinil) Inhalation Solution; Orenitram? (treprostinil) Extended-Release Tablets; and Adcirca? (tadalafil) Tablets. The company also markets and sells an oncology product, Unituxin? (dinutuximab) Injection for treatment of high-risk neuroblastoma. The company also engages in research and development of new indications and formulations and delivery devices for its existing products, as well as new products to treat PAH and other conditions. The company also engages in organ transplantation-related technologies.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.