MannKind Analyst Turns Bullish, Says 'Don't Call It Comeback'

Shares of MannKind Corp MNKD were climbing in early trading on Tuesday.

MannKind’s turnaround from facing bankruptcy a few years ago to a potential breakeven in 2024 stands “testament to its commitment to innovation,” according to Wedbush.

The MannKind Analyst: Andreas Argyrides initiated coverage of MannKind with an Outperform rating and price target of $10.

The MannKind Thesis: The stock offers an opportunity to “invest in a growing orphan lung and endocrine product portfolio with optionality from an early-stage pipeline that could drive meaningful value through the rest of the decade and beyond,” Argyrides said in the initiation note.

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“Investors remain focused on the strong launch from Tyvaso DPI,” which generated royalty revenue of $19 million in the second quarter of 2023, the analyst stated.

“Management's strategic development in pulmonary fibrosis with MNKD-201 (nintedanib) and MNKD-501 not only addresses the major unmet need in IPF but also offers the potential to expand its existing collaboration with United as both could be complementary to Tyvaso,” he added.

MNKD Price Action: Shares of MannKind had risen by 2.73% to $3.05 at the time of publication Tuesday.

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