United Therapeutics (UTHR) remains a "top pick" due to several near- to medium-term catalysts that could drive upside, UBS Securities analysts said in a report Thursday.

The firm said upcoming clinical trial data for "Tyvaso" in idiopathic pulmonary fibrosis, expected in late March or early April, could lift the stock, particularly if followed by a fast approval and "accelerated launch," and a potential update on the company's intellectual property dispute with Liquidia (LQDA) is another possible catalyst.

The company's "soft-mist treprostinil inhaler" announced during Q4 earnings, surprised investors, with its management indicating it could seek regulatory approval based on "stability and bioequivalence" data in healthy volunteers and potentially launch the product in 2027, the report said.

Analysts also highlighted strong Phase 3 data for "Ralinepag" in pulmonary arterial hypertension, could allow the drug to capture market share from Johnson & Johnson's (JNJ) Uptravi.

UBS has a buy rating on United Therapeutics and raised its price target to $705 from $655.

Price: 484.03, Change: -6.18, Percent Change: -1.26