MannKind (MNKD – Research Report), 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 surrounding MannKind’s innovative product, Afrezza. The company’s inhaled insulin product represents a significantly undervalued opportunity in the diabetes treatment market. Recent clinical data from the Phase 3 INHALE-1 and INHALE-3 studies, which were presented at major conferences, highlight Afrezza’s potential in both pediatric and adult populations.
These studies underscore Afrezza’s fit within the current treatment paradigm, offering an ultra-rapid acting insulin option that could enhance market adoption. Furthermore, the potential for Afrezza to expand into additional patient populations adds to its growth prospects. Yun Zhong’s analysis suggests that these factors collectively position MannKind for future success, justifying the Buy rating.
In another report released on June 20, Leerink Partners also maintained a Buy rating on the stock with a $7.00 price target.