Oppenheimer raised the firm’s price target on MannKind (MNKD) to $15 from $12 and keeps an Outperform rating on the shares. The firm is updating its model to include TYVASO DPI royalties following positive Phase 3 results from TETON-2 in IPF and FUROSCIX following the acquisition of scPharma. Oppenheimer sees TYVASO becoming a backbone therapy in IPF generating about $5.4B in sales in 2033 and subsequently enhancing MannKind’s DPI royalty stream.
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