Analyst Yun Zhong of Wedbush maintained a Buy rating on MannKind, retaining the price target of $11.00.
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Yun Zhong’s rating is based on the promising developments in MannKind’s collaboration with United Therapeutics, particularly the positive top-line data from the Phase 3 TETON-2 study of Tyvaso in idiopathic pulmonary fibrosis (IPF). The study’s success in meeting its primary endpoint and several secondary endpoints highlights the potential efficacy of Tyvaso, which could significantly impact the treatment landscape for IPF, a condition affecting millions worldwide. Furthermore, MannKind stands to benefit financially from royalties on Tyvaso DPI sales, as well as potential milestone payments, enhancing its revenue prospects.
Additionally, MannKind’s own development program, including the planned Phase 2 study of MNKD-201 in IPF, underscores its commitment to advancing innovative therapies in the respiratory space. The inhaled formulation of nintedanib aims to improve safety and tolerability, which could offer a competitive advantage over existing treatments. These strategic initiatives and collaborations position MannKind favorably for future growth, justifying the Buy rating.
In another report released on August 25, RBC Capital also maintained a Buy rating on the stock with a $8.00 price target.