United Therapeutics (UTHR) Up 5.7% Since Last Earnings Report: Can It Continue?

It has been about a month since the last earnings report for United Therapeutics (UTHR). Shares have added about 5.7% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is United Therapeutics due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for United Therapeutics Corporation before we dive into how investors and analysts have reacted as of late.

Q4 Earnings Beat, Sales Miss Estimates

United Therapeutics reported fourth-quarter 2025 EPS of $7.70, which surpassed the Zacks Consensus Estimate of $6.78. Earnings increased 24% year over year, driven by higher product sales.

Revenues in the fourth quarter were $790.2 million. Revenues missed the Zacks Consensus Estimate of $805 million. Revenues rose 7.3% year over year, driven by growth of key products — Tyvaso and Orenitram.

Quarter in Detail

Combined Tyvaso sales were $464.3 million, up 12% year over year. Tyvaso sales missed the Zacks Consensus Estimate of $488 million.

Tyvaso DPI generated revenues of $338.6 million, up 24% year over year, supported by stronger commercialization efforts following changes to Medicare Part D under the Inflation Reduction Act, which boosted patient uptake and volumes.

Revenues from nebulized Tyvaso (treprostinil) were $125.7 million, down 12%, due to lower volumes.

Sales of Orenitram rose 12% year over year to $121.2 million, primarily driven by higher volumes and improved commercialization efforts.

Remodulin (including Remunity Pump) sales declined 5% year over year to $128 million.

Unituxin sales were down 8% year over year to $62.3 million.

Adcirca sales were $7.8 million, up 66% year over year.

Research and development expenses were $139.5 million in the quarter, up 4.3% year over year, reflecting higher clinical development costs and increased share-based compensation.

Selling, general and administrative expenses increased 13.1% to $190.6 million in the quarter, primarily driven by increased consulting expenses and personnel costs tied to headcount expansion.

As of Dec. 31, 2025, United Therapeutics had cash, cash equivalents and investments of $4.6 billion compared with $4.3 billion as of Sept. 30, 2025. It had no debt.

UTHR’s Full-Year 2025 Results

For 2025, United Therapeutics reported total revenues of $3.18 billion, up 11% year over year.

For full-year 2025, the company recorded net earnings of $27.86 per share, higher than the EPS of $24.64 reported in 2024.

2026 Outlook

United Therapeutics expects “double-digit revenue growth” in 2026.

The company also said that it expects to reach $4 billion in annualized revenue run rate in the second half of 2027.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in fresh estimates.

VGM Scores

At this time, United Therapeutics has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, United Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

United Therapeutics is part of the Zacks Medical - Drugs industry. Over the past month, Madrigal (MDGL), a stock from the same industry, has gained 16.4%. The company reported its results for the quarter ended December 2025 more than a month ago.

Madrigal reported revenues of $321.08 million in the last reported quarter, representing a year-over-year change of +210.8%. EPS of -$2.57 for the same period compares with -$2.71 a year ago.

Madrigal is expected to post a loss of $3.62 per share for the current quarter, representing a year-over-year change of -9%. Over the last 30 days, the Zacks Consensus Estimate has changed -52.8%.

Madrigal has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.

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This article originally published on Zacks Investment Research (zacks.com).

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