MannKind price target raised to $12 from $10 at Oppenheimer

Oppenheimer analyst Steven Lichtman raised the firm’s price target on MannKind (MNKD) to $12 from $10 and keeps an Outperform rating on the shares in conjunction with the firm’s updated thoughts on United Therapeutics (UTHR) published today following the Key Opinion Leader call on the current treatment and competitive landscape in idiopathic pulmonary fibrosis with a focus on TYVASO. The addition of IPF indication to TYVASO yields an additional $5B in peak sales in 2033, providing a stream of royalties to MannKind by partner United Therapeutics, Oppenheimer says. The firm’s KOLs were equally enthusiastic about the promise of inhaled delivery of the current standard of care, pirfenidone and nintedanib, an avenue MannKind is working on with MNKD-201.