MannKind’s Strong Financial Performance and Promising Pipeline Drive Buy Rating

Faisal Khurshid, an analyst from Leerink Partners, reiterated the Buy rating on MannKind (MNKD – Research Report). The associated price target remains the same with $9.00.

Faisal Khurshid has given his Buy rating due to a combination of factors including MannKind’s robust financial performance and promising pipeline developments. The company reported strong earnings for the first quarter, with Tyvaso DPI showing a solid growth trajectory and contributing significantly to MannKind’s royalty revenue. This consistent revenue stream is bolstered by the increasing demand for Tyvaso DPI, which is expected to expand further with upcoming Phase 3 trial data.
Additionally, MannKind’s pipeline shows positive momentum, particularly with the MNKD-101 and MNKD-201 projects advancing as planned. The potential pediatric expansion for Afrezza also presents a growth opportunity, as the company plans to submit a supplemental Biologics License Application in mid-2025. These factors, combined with the strategic execution in their Endocrine Business Unit, underpin Khurshid’s optimistic outlook and Buy rating for MannKind’s stock.

In another report released on May 8, Wells Fargo also maintained a Buy rating on the stock with a $9.00 price target.