MannKind price target raised to $11 from $9 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on MannKind (MNKD) to $11 from $9 and keeps a Buy rating on the shares. United Therapeutics (UTHR) announced that Tyvaso Inhalation Solution met its primary efficacy endpoint of demonstrating improvement in absolute forced vital capacity relative to placebo, the analyst tells investors in a research note. The firm says that beyond the upside from the potential additional royalties and cash flow to MannKind, the positive TETON-2 data “removes a significant overhang” on the shares. H.C. Wainwright thinks the stock can now re-rate toward its intrinsic value.