Wells Fargo analyst Tiago Fauth lowered the firm’s price target on MannKind (MNKD) to $7 from $8 and keeps an Overweight rating on the shares. The firm thinks the stock price implies Tyvaso credit of $2-3/share. This seems aggressive, but disproving the bear case seems challenging in the near term. Still, Wells sees the stock outperforming on Furoscix and Afrezza.
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