10 Penny Stocks That Will Skyrocket

3. MannKind Corporation (NASDAQ:MNKD)

Stock Upside Potential as of July 30: 122.78%

Share Price as of July 30: $3.97

Number of Hedge Fund Holders: 29

MannKind Corporation (NASDAQ:MNKD) is one of the penny stocks that will skyrocket. On July 16, H.C. Wainwright assumed coverage of the stock with a ‘Buy’ rating and a $9 price target. The bullish stance is based on the company’s demonstrated strong growth of 32.5% over the last 12 months.

The research firm expects Tyvaso DPI to be one of the key factors driving MannKind’s valuation in the near future. Nevertheless, it maintains a cautious outlook on the Afreezza product line, expected to generate $127 million in sales by 2030.

H.C. Wainwright’s Buy rating and $9 price target are also based on expectations that MannKind’s product pipeline, including MNKD-101 and MNKD-201, will achieve 40% and 30% probability of success, respectively.

MannKind Corporation (NASDAQ:MNKD) develops and commercializes inhaled therapeutic products and devices for patients with endocrine and orphan lung diseases. Its primary product is Afrezza, an inhaled ultra-rapid-acting insulin for diabetes.