MannKind (MNKD) Stock Forecast & Price Target

MannKind Corp has experienced a notable increase in Afrezza prescriptions, rising 16% year-over-year, facilitated by adjustments to commercial co-pay and enhanced patient access, which signals a positive trend in demand for its inhaled insulin product. The company reported net revenue of $43.3 million for FY22, reflecting a 10.6% year-over-year growth, showcasing the potential for continued financial performance. Additionally, significant manufacturing capacity expansions are underway, which are projected to enhance production by over 250%, supporting long-term growth prospects in both the diabetes and pulmonary markets.

MannKind Corp faces fundamental challenges that contribute to a negative outlook on its stock, including declining prescription numbers for Afrezza prior to a slight uptick in Q2:23, which raises concerns about sustained demand for its flagship product. Despite the acquisition of V-GO generating $22.9 million in first-year net revenue, the company remains vulnerable to regulatory and pipeline failures that could further delay its path to profitability. Additionally, low projected sales of both internal and partnered products such as Tyvaso DPI could severely impact MannKind’s ability to finance its operations and advance its pipeline, exacerbating the uncertainty surrounding its financial future.