United Therapeutics Corp

UTHR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$682.00	Dppyt	Ltwdbjfd

United Therapeutics Reports Solid Q4 Results in Line With Expectations; Maintaining $213 FVE

Rachel Elfman

Feb 28, 2023

United Therapeutics reported solid fourth-quarter results in line with our expectations, highlighted by annual revenue over $1.9 billion, representing a 15% increase over 2021. We maintain our fair value estimate of $213 per share, no moat, stable trend, and high uncertainty ratings. We view shares as overvalued, currently trading in 2-star territory about 15% above our fair value estimate, as we continue to think the stock market is not fully incorporating the risk of generic competition that United Therapeutics faces over the next several years.

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