MannKind, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yun Zhong from Wedbush maintained a Buy rating on the stock and has a $11.00 price target.
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Yun Zhong’s rating is based on the strong revenue growth of Tyvaso DPI, which exceeded expectations and is expected to result in significant royalty payments for MannKind. The growth is attributed to an increase in patient numbers and a strategic price hike, with no adverse effects from competitor launches. Additionally, United Therapeutics plans to introduce new Tyvaso DPI cartridges that enhance dosing convenience, potentially increasing patient adherence and market share.
Furthermore, there is promising physician interest in screening for pulmonary hypertension in IPF patients, which could boost Tyvaso uptake. MannKind’s own IPF program, MNKD-201, shows potential with proven efficacy, and upcoming studies aim to provide further data. The recent acquisition of scPharmaceuticals and developments in Furoscix could also contribute to MannKind’s revenue growth, supporting the Buy rating.
Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Rezolute, and Protagonist Therapeutics. According to TipRanks, Zhong has an average return of -10.1% and a 41.77% success rate on recommended stocks.
In another report released on October 17, Wells Fargo also maintained a Buy rating on the stock with a $10.00 price target.