H.C. Wainwright Affirms MannKind Corp (MNKD)’s ‘Buy’ Rating Buoyed by Product Pipeline

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.

H.C. Wainwright Affirms MannKind Corp (MNKD)’s ‘Buy’ Rating Buoyed by Product Pipeline

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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.

While we acknowledge the potential of MNKD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MNKD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.