The firm lifted its price target citing expanded Afrezza use in pediatric diabetes patients after FDA approval.
Wells Fargo increased its price target for MannKind Corporation (NASDAQ:MNKD) to $11 from $10, maintaining an Overweight rating. The adjustment follows the FDA’s approval of Afrezza Inhalation Powder for pediatric patients aged 6 and older with type 1 and type 2 diabetes, supported by the INHALE-1 trial results.
MannKind’s Q1 2026 earnings call highlighted potential $35 million in development milestones and a 10% royalty on net sales. The company also remains the sole manufacturer of Tyvaso DPI under a supply agreement, reinforcing its commercial pipeline.
The firm described MannKind’s commercial potential as a “show-me story,” reflecting cautious optimism amid the expanded market opportunity.