Analyst Yun Zhong of Wedbush maintained a Buy rating on MannKind, retaining the price target of $11.00.
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Yun Zhong’s rating is based on MannKind’s strong performance and strategic initiatives that indicate potential for continued growth. The company reported robust revenue growth across its product lines and made significant progress in its clinical programs, including the successful acquisition of scPharma and FDA acceptance of a supplemental Biologics License Application for Afrezza. Additionally, MannKind’s partnership with United Therapeutics is expected to enhance royalty streams, particularly with Tyvaso DPI’s new indication for idiopathic pulmonary fibrosis.
MannKind’s expansion of its sales force and strategic focus on pediatric approvals and new studies are anticipated to drive further growth for Afrezza. The integration of scPharma is proceeding well, with promising revenue from Furoscix and a focus on post-discharge patients, which presents a substantial opportunity. Furthermore, the development of MNKD-701 and progress in pipeline programs like MNKD-101 and MNKD-201 underscore the company’s potential in orphan lung indications, supporting a favorable risk/reward profile for investors.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.