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 has given his Buy rating due to a combination of factors related to MannKind’s partner, United Therapeutics, and their product Tyvaso. The TETON-2 study results presented at the European Respiratory Society Congress demonstrated Tyvaso’s strong efficacy in treating idiopathic pulmonary fibrosis (IPF), showing significant improvements in forced vital capacity (FVC) and patient-reported outcomes compared to placebo. This positions Tyvaso favorably against competitors like Boehringer Ingelheim’s nerandomilast, which is under FDA priority review.
The study’s findings suggest that Tyvaso could be an integral part of a multi-modality treatment approach for IPF, potentially serving as a first-line therapy due to its efficacy and tolerability. Despite some initial side effects like increased cough during the titration period, these stabilized over time, indicating a manageable safety profile. The compelling clinical data and potential for regulatory approval strengthen the investment case for MannKind, justifying the Buy rating.
In another report released on September 18, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.