MannKind (MNKD) PT Raised to $12 at Oppenheimer

Oppenheimer analyst Steven Lichtman raised the price target on MannKind (NASDAQ: MNKD) to $12.00 (from $10.00) while maintaining a Outperform rating.

The analyst commented: "We update our MannKind Corporation (MNKD) estimates and PT in conjunction with our updated thoughts on United Therapeutics (UTHR) published today following the 8/21 Key Opinion Leader (KOL) call on the current treatment and competitive landscape in idiopathic pulmonary fibrosis (IPF) with a focus on TYVASO. The addition of IPF indication to TYVASO yields an additional ~$5B in peak sales in 2033, providing a stream of royalties to MNKD by partner UTHR. Our KOLs were equally enthusiastic about the promise of inhaled delivery of the current standard of care, pirfenidone and nintedanib, an
avenue MNKD is working on with MNKD-201 (nintedanib DPI). We increase our PT to $12 (from $10) incorporating royalty revenues from IPF indication for TYVASO DPI and reiterate Outperform rating."

You May Also Be Interested In

• JPMorgan Downgrades ASX Limited (ASX:AU) (ASXFY) to Neutral
• Barclays Downgrades PolyPeptide Group AG (PPGN:SW) to Equalweight
• JPMorgan Upgrades FOX Corp. (FOXA) to Overweight