Analyst Faisal Khurshid from Leerink Partners reiterated a Buy rating on MannKind and keeping the price target at $7.00.
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Faisal Khurshid has given his Buy rating due to a combination of factors that highlight MannKind’s potential for growth and stability. The company reported its second-quarter earnings for 2025, showing that its pipeline is progressing as planned, which includes developments in idiopathic pulmonary fibrosis (IPF), nontuberculous mycobacterial lung disease (NTM), and pediatric applications of Afrezza. Despite some uncertainties surrounding the TETON-2 readout for Tyvaso in IPF, MannKind’s current valuation is supported by its existing business, particularly the royalties from Tyvaso DPI in pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), along with Afrezza sales.
Additionally, while the growth in Tyvaso DPI royalties has decelerated, the company still generated significant revenue from these royalties. The upcoming TETON results are seen as a major short-term driver for MannKind’s stock, with potential for substantial upside if successful. Although there is skepticism about the TETON trial’s success, the late 2025 to early 2026 period is expected to bring significant catalysts that could enhance the market’s appreciation of MannKind’s pipeline, reinforcing the Buy rating.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $12.00 price target.