MiroliverELAP trial update and why it matters for United Therapeutics (UTHR)

United Therapeutics (UTHR) recently reported positive safety and survival findings from a phase 1 study of miroliverELAP, an external liver assist device for acute liver failure patients who are not eligible for transplants.

The single arm, open label trial treated five such patients continuously for at least 44 hours. It met its primary survival endpoint during treatment and reported no unexpected serious adverse events over a 32 day follow up period.

United Therapeutics’ positive miroliverELAP update comes as the share price, now at US$478.93, reflects mixed recent momentum. The 90 day share price return is 6.69% and the 30 day share price return is 4.73%, while the 1 year total shareholder return of 35.39% and 5 year total shareholder return of 182.50% show that longer term holders have seen much stronger results.

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With the shares at about US$478.93, an analyst price target near US$530.84, a value score of 5, and an estimated intrinsic discount of roughly 69%, is United Therapeutics on sale, or is the market already pricing in future growth?

Most Popular Narrative: 9.8% Undervalued

At $478.93, the most followed narrative pegs United Therapeutics' fair value closer to $530.84, built on a detailed view of its future earnings power.

The company's innovation wave pipeline, including studies in progressive fibrosis, next-generation delivery platforms (oral, implantable), and organ manufacturing (xenotransplant/3D printing), positions United Therapeutics to benefit from the expanding focus on personalized and regenerative medicine, which can create new revenue streams and margin expansion opportunities as these long-horizon technologies approach clinical milestones and eventual commercialization.

Curious what earnings, revenue growth, and profit margin profile sits behind this higher fair value, and how future valuation multiples tie it all together? The narrative lays out the full financial playbook that underpins that $530.84 figure, along with the assumptions that need to line up for it to hold.

Result: Fair Value of $530.84 (UNDERVALUED)

However, there are still clear pressure points, including heavy reliance on pulmonary treatments and binary clinical trial outcomes that could quickly challenge this underpriced thesis.

Build Your Own United Therapeutics Narrative

If you look at the numbers and reach a different conclusion, or just prefer to test your own view against the data in front of you, you can build a custom thesis for United Therapeutics in just a few minutes with Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding United Therapeutics.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.