MannKind, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yun Zhong from Wedbush reiterated 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 that indicate a promising outlook for MannKind. The company is making significant progress in its clinical trials, with the MNKD-101 study nearing its target patient enrollment ahead of schedule and the MNKD-201 study set to begin by the end of the year. Additionally, the submission for Afrezza’s pediatric use is complete, and sales force expansion is underway, anticipating future approvals.
Furthermore, MannKind’s financial position is strengthened by a strategic financing agreement, providing flexibility to support both commercial and clinical activities. The recent increase in Afrezza’s net revenue reflects the positive impact of enhanced promotional efforts, and management expects this growth trend to continue. With these developments, along with the potential opportunities in orphan lung indications, Yun Zhong sees a favorable risk/reward ratio for MannKind, justifying the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $9.00 price target.