United Therapeutics (UTHR) Stock Forecast & Price Target

United Therapeutics is attractive because its Tyvaso franchise has strong commercial momentum, with Tyvaso DPI driving the bulk of revenue and a broad PAH/PH-ILD platform supported by Remodulin, Orenitram, and other assets. The favorable initial legal outcome versus Liquidia reduces competitive pressure, preserves near-term growth visibility, and could help the franchise resume an encouraging trajectory into next year, while the April 2027 IPF PDUFA adds substantial upside by expanding the addressable market and easing reimbursement friction. Financially, the bullish case points to roughly $3.792 billion in 2027 revenue and $33.07 in diluted non-GAAP EPS, with valuation still seen as modest at about 17x to 18x forward P/E.

United Therapeutics is viewed negatively because its core Tyvaso franchise faces multiple competitive threats, including novel mechanism therapies, generic entrants, and Liquidia’s Yutrepia taking more PAH share than expected, which could pressure the company’s highest-revenue product. Its other commercial assets, Remodulin and Orenitram, are also exposed to competition, while Tyvaso uptake in IPF/PPF appears slower than expected and Tyvaso DPI could face manufacturing setbacks or weaker-than-planned adoption. The outlook is further constrained by portfolio execution risk, since TreSMI is not approved and launched by management’s goal timeline of FY27 and ralinepag may encounter regulatory setbacks or slower physician prescribing across future indications.