Mizuho starts MannKind with Outperform on positive Tyvaso checks

Mizuho initiated coverage of MannKind (MNKD) with an Outperform rating and $12 price target The firm’s channel checks for continued Tyvaso DPI adoption despite potential competition coming over the near-term were positive. Further, it sees “substantial upside potential” from MannKind’s research and development pipeline. Afrezza’s potential expansion into U.S. pediatrics with the imminent readout of the INHALE-1 study along with MNKD-101 and MNKD-201 are “transformative to the story” over the near-term, the analyst tells investors in a research note. Mizuho sees upside to $20 per share on positive outcomes in INHALE-1, MNKD-101 and MNKD-201