UNITED THERAPEUTICS STOCK RISES ABOVE MA5 ON RATING UPGRADE
United Therapeutics Corp.’s stock is currently trading at 81.69-higher by 4.65% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 5.37%. The stock has pared some of its earlier gains after the opening bell.
Investment bank Credit Suisse upgraded the biotechnology company’s stock to outperform from Neutral. The bank also raised its price target on United Therapeutics’ stock to $101 from $98. Credit Suisse expects the stock’s downside as limited with multiple attributes that could support near-term rebound including potential for share buybacks and potential for less aggressive generic uptake.
In May, United Therapeutics reported EPS of -$11.32 for its first quarter ending 31st March. The EPS was below the market expectation of $2.64.
On the technical front, the RSI is currently at 49.28% and suggests that the market can move in the upward direction. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 10% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- STOP BUY AT 81.80 TAKE PROFIT AT 82.35 STOP LOSS AT 81.52