5 Best Healthcare Penny Stocks to Buy According to Hedge Funds

4. MannKind Corporation (NASDAQ:MNKD)

Stock Upside Potential: 171.26%

Number of Hedge Fund Holders: 39

MannKind Corporation (NASDAQ:MNKD) is one of the best healthcare penny stocks to buy according to hedge funds. On March 30, Truist Securities reiterated that MannKind (NASDAQ:MNKD) is a Buy with a $7 price target in response to positive trial results from its strategic partner, United Therapeutics.

MannKind has partnered with United Therapeutics to develop Tyvaso products. United Therapeutics delivered positive top-line data in the TETON-1 study investigating inhaled treprostinil (Tyvaso) for Idiopathic Pulmonary Fibrosis (IPF). The 598-patient multicenter randomized, double-blind Phase III study of nebulized Tyvaso showed superiority over placebo for the change in absolute forced vital capacity.

An analysis of TETON-1 and TETON-2 delivered positive topline results versus placebo, with a change in absolute FVC of 111.8 mL. According to Truist Securities, the top-line clinical data underscores the tremendous prospects of the Tyvaso franchise. In addition, the results bode well for Tyvaso’s future in IPF.

Earlier at the Barclays 28th Annual Global Healthcare Conference, MannKind reiterated its plans to expand revenue streams and achieve $1 billion in sales in five years. The acquisition of scPharmaceuticals is poised to strengthen the company’s revenue streams and expand its cardiometabolic portfolio.

MannKind Corporation (NASDAQ:MNKD) is a biopharmaceutical company focused on developing and commercializing inhaled therapeutics and drug-delivery technologies for endocrine and orphan lung diseases. They specialize in dry-powder formulations using their proprietary Technosphere® technology, delivering drugs deep into the lungs.