MannKind

MNKD · NASDAQ

$3.10+$0.01 (+0.32%)TodayMarket closed · Oct 20, 7:53 PM ET

Prev close $3.09

MNKD analyst rating

BuyConsensus of 8 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy7
Hold1
Underperform0
Sell0

12-month price target · 10 analysts

Average $8.13 (+162.2% upside)

Low: $4.80
Now: $3.10
High: $13.65

Upgrades and downgrades

The latest rating actions, newest first

MNKD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 20, 2026	Maintains	Overweight	$8.00	25%
Chardan Capital	Oct 19, 2026	Initiates	Buy	$10.00	45%
Truist Securities	Oct 7, 2026	Maintains	Buy	$6.00 → $5.00	47%
Cantor Fitzgerald	Sep 11, 2026	Maintains	Overweight	$8.00	25%
Wells Fargo	Aug 6, 2026	Maintains	Overweight	$14.00 → $13.00	29%
Wells Fargo	Jul 30, 2026	Maintains	Overweight	$11.00 → $14.00	29%
RBC Capital	May 7, 2026	Maintains	Sector Perform	$3.50 → $4.75	56%
Wells Fargo	May 7, 2026	Maintains	Overweight	$8.00 → $10.00	29%
Mizuho	May 7, 2026	Maintains	Outperform	$8.00 → $7.00	56%
HC Wainwright & Co.	May 7, 2026	Maintains	Buy	$8.00 → $10.00	36%

The case for and against

Updated Oct 18, 2026

Bull case

MannKind is supported by a stronger, more diversified growth story that is increasingly centered on royalty and collaboration revenue, with Tyvaso DPI and ralinepag DPI expanding visibility into durable cash flows. The company also has multiple internally controlled catalysts, including the Afrezza pediatric PDUFA, FUROSCIX ReadyFlow autoinjector PDUFA, and 3Q26 MNKD-201 IPF data, while 1Q26 revenue of $90.2M and cash and investments of $134M show a business with meaningful scale and a cleaner balance sheet. Positive launch momentum in Afrezza, management’s $110M to $120M 2026 FUROSCIX target, and encouraging early MNKD-201 tolerability data reinforce a favorable risk-reward profile.

Bear case

MannKind is facing a fundamentally challenging outlook because its revenue base depends heavily on products and partners that may underperform, including Afrezza, V-Go, and Tyvaso DPI, while consensus already anticipates royalty revenue declining from 2027 onward. The company also carries meaningful regulatory and clinical risk, as pipeline candidates such as ralinepag DPI (MNKD-1501) may fail to secure approval in the United States or Europe, delaying profitability and eroding the value of its shares. In addition, MannKind may need additional funding before reaching profitability, and its dependence on United Therapeutics, Biomm Sa, Australasian Medical & Scientific, and future collaboration partners creates execution risk outside its control.

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