Analyst Consensus ?
ConsensusBuy31 ratings
Bullish1961.3%
Neutral1135.5%
Bearish13.2%
United Therapeutics Corporation · UTHR · FY2026 Q2 · Calendar Q3 2026
United Therapeutics: flat revenue, pipeline milestones point to 2027
The quarter supports a pipeline-led growth case through clinical progress and regulatory submissions, but flat revenue and uncertainties around approval, competition and launch execution keep that case conditional.
Why did UTHR rise 0.1% after beating EPS estimates in FY2026 Q2?
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Reported Before market openNASDAQHealthcare
$26.10B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$7.27
Consensus $6.86
EPS surprise
+6.0%
Reported versus consensus
Reported revenue
$783.3M
Consensus $804.6M
Revenue surprise
-2.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.1%
Event window
SPY move
-0.2%
Same window
Abnormal move
+0.3%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
-5.2%
Up to 20 sessions
UTHRSPY benchmark
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Why did UTHR rise 0.1% after beating EPS estimates in FY2026 Q2?What changed in UTHR's guidance and outlook in FY2026 Q2?Give me the bull and bear case for UTHR after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter's planned submissions and development timelines, management reported submitting an sNDA for nebulized Tyvaso in IPF and an NDA for ralinepag in PAH, while also completing the Thymmune Therapeutics acquisition. Revenue remained flat year over year; the supplied scorecard reports revenue of $783.3 million and EPS of $7.27.
Guidance delta
Guidance sentiment was maintained. Management described potential 2027 launches or approvals for nebulized Tyvaso in IPF and ralinepag in PAH, subject to FDA review; no raised or lowered financial guidance is identified in the supplied analysis.
Key takeaways
- Reported revenue was $783.3 million, below the supplied consensus estimate; EPS was $7.27, above the supplied estimate.
- Management highlighted statistically significant ADVANCE OUTCOMES and TETON-1 trial results, while describing potential 2027 approvals for nebulized Tyvaso in IPF and ralinepag in PAH.
- Management said it expanded the sales force and completed the Thymmune Therapeutics acquisition; neither item by itself establishes future revenue contribution.
Management priorities
- Advance regulatory review for nebulized Tyvaso in IPF and ralinepag in PAH, and continue development of the ralinepag DPI and SMI device.
- Build commercial reach and pursue launch readiness for potential new products.
- Progress organ-transplant studies, including UKidney EXPAND, UThymoKidney EXTEND and EXPRESS-UHeart.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$608.49Current
$205Low
$486.86Average
$850High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Nov 4, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 28, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 22, 2026 |
| Leerink Partners | Outperform | Outperform | Maintain | Oct 19, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 7, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jul 10, 2026 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | May 7, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Mar 31, 2026 |
| TD Cowen | Buy | Buy | Maintain | Mar 30, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Mar 12, 2026 |
| UBS | Buy | Buy | Maintain | Mar 5, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Feb 26, 2026 |
| Jefferies | Buy | Buy | Maintain | Sep 2, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Nov 1, 2024 |
| Ladenburg Thalmann | Buy | Buy | Maintain | Oct 31, 2024 |
| Argus Research | Buy | Buy | Maintain | Oct 31, 2024 |
| Wedbush | Outperform | Outperform | Maintain | Feb 22, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 24, 2022 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Feb 27, 2020 |
| Barclays | Underweight | Underweight | Maintain | Mar 1, 2019 |
| Standpoint Research | Buy | Hold | Upgrade | Oct 12, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| H.C. Wainwright | Neutral | Buy | Downgrade | Jun 15, 2016 |
| Leerink Swann | Perform | Market Perform | Maintain | Apr 29, 2015 |
| BTIG Research | Neutral | Neutral | Maintain | Jan 6, 2015 |
| Standpoint | Buy | Hold | Upgrade | Oct 15, 2014 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 26, 2013 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 27, 2013 |
| Brean Capital | Hold | Buy | Downgrade | Feb 26, 2013 |
| Guggenheim | Neutral | Neutral | Maintain | Jan 23, 2013 |
| Canaccord Genuity | Hold | Buy | Downgrade | Apr 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $608.49. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Raymond James | Tiago Fauth | $720 | $611.8 | +18.3% | Nov 4, 2026 |
| Cantor Fitzgerald | Olivia Brayer Saunders | $850 | $590.57 | +39.7% | Oct 26, 2026 |
| RBC Capital | Analyst unavailable | $697 | $577.05 | +14.5% | Oct 22, 2026 |
| Raymond James | Analyst unavailable | $717 | $564.15 | +17.8% | Oct 20, 2026 |
| UBS | Analyst unavailable | $725 | $533.12 | +19.1% | Oct 19, 2026 |
| Goldman Sachs | Analyst unavailable | $368 | $540.03 | -39.5% | Oct 15, 2026 |
| Jefferies | Roger Song | $728 | $543.4 | +19.6% | Oct 14, 2026 |
| RBC Capital | Analyst unavailable | $708 | $533.86 | +16.4% | Oct 8, 2026 |
| BTIG | Analyst unavailable | $728 | $541.89 | +19.6% | Oct 1, 2026 |
| Goldman Sachs | Andrea Newkirk | $321 | $489.42 | -47.2% | Sep 24, 2026 |
| Morgan Stanley | Terence Flynn | $515 | $519.01 | -15.4% | Aug 6, 2026 |
| Morgan Stanley | Terence Flynn | $516 | $583.14 | -15.2% | May 7, 2026 |
| Wells Fargo | Analyst unavailable | $735 | $596.76 | +20.8% | May 7, 2026 |
| Wells Fargo | Analyst unavailable | $738 | $596.76 | +21.3% | May 7, 2026 |
| Morgan Stanley | Terence Flynn | $519 | $570.48 | -14.7% | Apr 10, 2026 |
| Raymond James | Analyst unavailable | $700 | $570.48 | +15.0% | Apr 10, 2026 |
| Cantor Fitzgerald | Olivia Brayer | $625 | $541.6 | +2.7% | Mar 12, 2026 |
| H.C. Wainwright | Andrew Fein | $600 | $508.47 | -1.4% | Feb 26, 2026 |
| UBS | Analyst unavailable | $645 | $506.78 | +6.0% | Jan 6, 2026 |
| Jefferies | Eun Yang | $575 | $476.59 | -5.5% | Nov 19, 2025 |
| H.C. Wainwright | Andrew Fein | $525 | $449.76 | -13.7% | Oct 30, 2025 |
| RBC Capital | Lisa Walter | $587 | $449.76 | -3.5% | Oct 30, 2025 |
| Morgan Stanley | Terrance Flynn | $447 | $449.7 | -26.5% | Oct 29, 2025 |
| Morgan Stanley | Terence Flynn | $435 | $445.38 | -28.5% | Oct 10, 2025 |
| UBS | Analyst unavailable | $580 | $432.66 | -4.7% | Sep 29, 2025 |
| RBC Capital | Analyst unavailable | $569 | $427.16 | -6.5% | Sep 26, 2025 |
| Cantor Fitzgerald | Olivia Brayer | $525 | $396.5 | -13.7% | Sep 10, 2025 |
| H.C. Wainwright | Andrew Fein | $500 | $400.52 | -17.8% | Sep 5, 2025 |
| Jefferies | Roger Song | $564 | $404.81 | -7.3% | Sep 2, 2025 |
| H.C. Wainwright | Andrew Fein | $400 | $281.95 | -34.3% | Jul 31, 2025 |
| Wells Fargo | Tiago Fauth | $314 | $291.38 | -48.4% | Apr 25, 2025 |
| Argus Research | Jasper Hellweg | $400 | $362.36 | -34.3% | Oct 31, 2024 |
| H.C. Wainwright | Andrew Fein | $425 | $361.4 | -30.2% | Oct 31, 2024 |
| Jefferies | Eun Yang | $432 | $353 | -29.0% | Sep 23, 2024 |
| Oppenheimer | Hartaj Singh | $575 | $362.44 | -5.5% | Aug 28, 2024 |
| UBS | Ashwani Verma | $370 | $317.18 | -39.2% | Jul 8, 2024 |
| Wells Fargo | Tiago Fauth | $350 | $275.76 | -42.5% | Jun 12, 2024 |
| Oppenheimer | Hartaj Singh | $400 | $255.14 | -34.3% | May 2, 2024 |
| Goldman Sachs | Chris Shibutani | $215 | $214.74 | -64.7% | Feb 12, 2024 |
| Argus Research | Analyst unavailable | $300 | $263.41 | -50.7% | Jan 11, 2023 |
| Morgan Stanley | Analyst unavailable | $330 | $276.07 | -45.8% | Dec 6, 2022 |
| UBS | Analyst unavailable | $320 | $273.72 | -47.4% | Dec 6, 2022 |
| Goldman Sachs | Analyst unavailable | $230 | $278.55 | -62.2% | Dec 5, 2022 |
| J.P. Morgan | Analyst unavailable | $238 | $218 | -60.9% | May 24, 2022 |
| Jefferies | Analyst unavailable | $245 | $217.14 | -59.7% | May 24, 2022 |
| Credit Suisse | Analyst unavailable | $247 | $210.14 | -59.4% | May 24, 2022 |
| H.C. Wainwright | Analyst unavailable | $255 | $210.14 | -58.1% | May 24, 2022 |
| J.P. Morgan | Analyst unavailable | $223 | $184.24 | -63.4% | Apr 19, 2022 |
| Credit Suisse | Tiago Fauth | $205 | $198.14 | -66.3% | May 5, 2021 |
Track every rating change on UTHR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationUnited Therapeutics Corporation, a biotechnology firm, is dedicated to discovering, developing, and bringing to market medical solutions for individuals suffering from chronic and severe, often life-threatening, illnesses. Its operations span both the United States and international markets. The company's current commercial portfolio features several key therapeutics: Remodulin, prescribed for pulmonary arterial hypertension (PAH) to lessen symptoms experienced during physical activity. Tyvaso, an inhaled form of the prostacyclin analogue treprostinil, designed to enhance exercise capacity in patients with PAH and pulmonary hypertension linked to interstitial lung disease (PH-ILD). Orenitram, a treprostinil tablet formulation, also aims to boost the exercise capabilities of PAH patients. Unituxin, a monoclonal antibody utilized in the treatment of high-risk neuroblastoma. Adcirca, an oral PDE-5 inhibitor, which helps improve exercise performance in those with PAH.…
Historical context
All UTHR earningsHealthcare peers this season
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| ZBH Zimmer Biomet Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +14.6% | Zimmer Biomet raises 2026 outlook as hip and technology growth offset knee weakness |
| MDLN Medline Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +16.2% | Medline Raises 2026 Organic Sales Outlook on 10% Q3 Growth |
Latest beats and misses
Who reports nextBeat on EPS
- KHCFY2026 Q3 · November 4, 2026+25.1% EPS+3.8% move
- QFY2026 Q3 · November 4, 2026+21.7% EPS-0.1% move
- MCDFY2026 Q3 · November 4, 2026+5.6% EPS+6.5% move
- SNFY2026 Q3 · November 4, 2026+23.2% EPS+4.1% move
- SWKFY2026 Q3 · November 4, 2026+49.0% EPS+13.1% move
- SKMFY2026 Q3 · November 4, 2026+4.0% EPS+2.5% move
Missed on EPS
- UTHRFY2026 Q3 · November 4, 2026-5.0% EPS+1.2% move
- TRMBFY2026 Q3 · November 4, 2026-0.2% EPS-17.3% move
- OCFY2026 Q3 · November 4, 2026-20.5% EPS+8.5% move
- OHIFY2026 Q3 · November 3, 2026-42.5% EPS+3.5% move
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
Get the UTHR recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-08-05T18:22:40.388428+00:00
- FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
- Polygon adjusted daily market bars · 2026-11-05T04:30:45.162017+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-05T04:30:45.159418+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-05. For educational purposes only; not investment advice.