Cantor Fitzgerald Reiterates Overweight Rating on MannKind (MNKD); '3Q22 A Vote of Confidence in Long-Term Outlook'

Cantor Fitzgerald analyst Brandon Folkes reiterated an Overweight rating and $6.50 price target on MannKind (NASDAQ: MNKD) following Q3 results, calling them a "vote of confidence in the long-term outlook."

The analyst commented, "United Therapeutics (UTHR, Not Covered) announced in May the approval of Tyvaso DPI, for which MNKD will receive royalties as well as manufacture. UTHR launched commercial efforts shortly thereafter, its first commercial shipments to specialty pharmacies occurred in June 2022 and the first patients started Tyvaso DPI therapy shortly thereafter. We view UTHR as having a strong start to the initial launch of Tyvaso DPI, and this was evidenced by the strong 3Q22 results that MNKD presented today. While still in the early stages of Tyvaso DPI launch, we are encouraged by the start, as well as MNKD's strong balance sheet, solid pipeline and commercial execution, especially V-Go, while Afrezza continues to grow both total and new prescriptions double-digit (on a y/y basis).

Going forward, we believe data readouts from the company's own pipeline and better-than-forecast revenue could drive further upside in MNKD stock."

For an analyst ratings summary and ratings history on MannKind click here. For more ratings news on MannKind click here.

Shares of MannKind closed at $3.63 yesterday.

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