United Therapeutics (UTHR)
Builds pulmonary-hypertension medicines and investigational organ-manufacturing platforms.
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Develops treatments for pulmonary hypertension and high-risk neuroblastoma, with inhaled Tyvaso anchoring a portfolio that spans multiple treprostinil delivery formats. Commercial medicines are concentrated in the United States and fund investigational programs in gene-edited pig organs, patient-derived grafts, and recellularized scaffolds.
Develops and commercializes medicines for pulmonary hypertension and high-risk neuroblastoma, led by the inhaled Tyvaso franchise. Remodulin and Orenitram extend treprostinil across infused and oral formats, while Adcirca and Unituxin broaden the approved portfolio.
Commercial execution centers on multiple delivery options for chronic pulmonary vascular disease. Tyvaso DPI and Orenitram are sold only in the United States, while nebulized Tyvaso, Remodulin, and Unituxin also generate international revenue.
Uses cash from approved medicines to develop manufactured-organ alternatives through gene-edited pig organs, patient-derived grafts, and recellularized scaffolds. Those programs remain investigational. The commercial business is concentrated in treprostinil therapies and specialty-pharmacy distribution, with product differentiation, patent outcomes, physician sequencing, regulatory compliance, and uncertain organ-development pathways shaping the model.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Morgan Stanley | Target | Target: $516 | Target: $515 |
| May 7, 2026 | Morgan Stanley | Target | Target: $519 | Target: $516 |
| May 7, 2026 | Wells Fargo | Upgrade | Target: $738 | Target: $735 |
| Apr 10, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $447 | Target: $519 |
| Apr 10, 2026 | Raymond James | Target | Target: — | Target: $700 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.66B · Total debt $0 · Total assets $7.22B · Shareholders' equity $6.40B
- Revenue
- $783.3M
- Operating income
- $330.8M
- Net income
- $333.0M
No dividends on record.
| Institutions | 97.91% | 41.99M shares | |
|---|---|---|---|
| 901 holders · as of Jun 30, 2026 | |||
| Insiders | 7.77% | 3.33M shares | |
| 14 holders · as of Sep 21, 2026 | |||
| Adds to | 105.68% | ||
42.89M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 105.68%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.34% | 5.29M | as of Jun 30, 2026 |
Martine A. Rothblatt1Insiderdirector, officer: Chairperson & CEO | 7.38% | 4.12M | filed Sep 21, 2026 |
Avoro Capital Advisors LLCInstitution | 6.48% | 2.78M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.48% | 1.92M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.47% | 1.92M | as of Jun 30, 2026 |
- Martine A. Rothblatt's transaction reports restate only vehicles that traded; the 2022 ownership statement (4.12M) less the 954.0K net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 18, 2026 | Martine A. Rothblatt | director, officer: Chairperson & CEO | −9,500 | $494.79 |
| Sep 17, 2026 | Paul A. Mahon | officer: EVP & GENERAL COUNSEL | −8,300 | $497.54 |
| Sep 17, 2026 | Martine A. Rothblatt | director, officer: Chairperson & CEO | −9,500 | $496.06 |
| Sep 16, 2026 | Martine A. Rothblatt | director, officer: Chairperson & CEO | −9,500 | $501.39 |
| Sep 15, 2026 | Martine A. Rothblatt | director, officer: Chairperson & CEO | −9,500 | $501.59 |
- Liquidia
Direct inhaled-treprostinil rival across PAH and PH-ILD
- Johnson & Johnson
Broad PAH rival across oral, infused, and combination therapies
- Merck
PAH treatment-sequencing rival built around WINREVAIR
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| United Therapeutics | $498.25 | +0.12% | $20.93B | 17.7 | 19.2 | 6.6 | −1.9% |
| Liquidia | $68.64 | 0.00% | $5.91B | 48.5 | 15.4 | 13.1 | +1,842.7% |
| Johnson & Johnson | $269.19 | −0.04% | $649.40B | 31.2 | 22.7 | 6.6 | +6.6% |
| Merck | $151.92 | +0.67% | $369.24B | 119.6 | 17.5 | 5.6 | +5.1% |
| Median | 48.5 | 17.5 | 6.6 | +6.6% |