Wells Fargo initiated coverage of MannKind (MNKD) with an Overweight rating and $9 price target The company’s singular focus on the commercial business overlooks its two clinical stage programs with “derisked mechanisms” in a proven delivery technology that may enable better safety and tolerability in fairly substantial markets, the analyst tells investors in a research note. The firm sees the stock becoming a MNKD-101 and MKND-201 story in 2025 and 2026. MNKD-101 in lung disease and MNKD-201 in idiopathic pulmonary fibrosis are “under the radar programs with potential opportunities that are multiples of what the current base business is generating today, and these assets are worth a look,” contends Wells.
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