H.C. Wainwright analyst Brandon Folkes reiterated a Buy rating on MannKind today and set a price target of $11.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight MannKind’s potential despite recent setbacks. The discontinuation of the MNKD-101 trial was indeed a disappointment, but it does not overshadow the promising aspects of MannKind’s diversified business model. The company has several potential value drivers in the pipeline, such as the Afrezza pediatric label expansion and the Furoscix auto-injector, which could significantly enhance MannKind’s market position in the coming years.
Furthermore, the anticipated readouts from MNKD-201 and other projects in 2026 and 2027 present attractive risk-reward opportunities for investors. The recent market reaction, which saw a decrease in MannKind’s stock price, is viewed by Folkes as an overcompensation, thereby enhancing the stock’s attractiveness. Additionally, MannKind’s strong capital position allows for strategic capital allocation, which could further drive the company’s growth and value. These factors collectively support Folkes’s Buy rating and the $11 price target for MannKind’s stock.
Folkes covers the Healthcare sector, focusing on stocks such as MannKind, Achieve Life Sciences, and Eupraxia Pharmaceuticals. According to TipRanks, Folkes has an average return of -1.2% and a 40.33% success rate on recommended stocks.
In another report released on November 7, Oppenheimer also maintained a Buy rating on the stock with a $15.00 price target.