Leerink Partners Slashes MannKind Corporation’s (MNKD) Price Target to $7, Keeps a Buy Rating

MannKind Corporation (NASDAQ:MNKD) is one of the 13 Best Long-Term Penny Stocks to Buy According to Analysts. On June 19, analyst Faisal Khurshid of Leerink Partners reiterated a Buy rating on MannKind Corporation (NASDAQ:MNKD), reducing the price target to $7 from $9. Despite some near-term uncertainties, the analyst based the rating on the company’s long-term growth, stating that the stock is currently undervalued.

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A close-up of a doctor’s hand pressing on an inhaler, conveying the effect of the company’s therapeutic products.

Calling the company a unique player in the SMID-cap biotech sector, the analyst stated that MannKind Corporation (NASDAQ:MNKD) holds an optimistic position because of its modest Afrezza sales and cash flow positive status from Tyvaso DPI royalties. The company is also focusing on inhaled therapies for orphan respiratory indications, which further presents several opportunities for success, according to the analyst.

While Khurshid acknowledged the risks associated with the Tyvaso DPI royalty stream, especially with Yutrepia’s recent approval and position as a competitor, he also expressed near-term optimism about the commercial trajectory of Tyvaso DPI and its potential effect on the company’s financials. The analyst considers the upcoming results from the Phase 3 TETON-2 trial of Tyvaso in IPF to be a notable catalyst for the MannKind Corporation (NASDAQ:MNKD).

MannKind Corporation (NASDAQ:MNKD) is a biopharmaceutical company that develops and commercializes innovative therapeutic devices and products that address serious unmet medical needs for endocrine and orphan lung diseases. The company’s pipeline and products include Afrezza, Pediatric Afrezza, V-Go, Tyvaso DPI, MNKD-101, MNKD-201, MNKD-301, and MNKD-501.

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