RBC Capital Starts MannKind (MNKD) at Sector Perform

[mytakeonit]

Yep, works for me. Added another 16k shares to my wife's/daughter's account.

But, that's mytakeonit

[wyattdog]

MannKind Initiated at Sector Perform by RBC, Price Target Set at $5/Share
9:36 AM ET, 05/14/2021 - MT Newswires
09:36 AM EDT, 05/14/2021 (MT Newswires) -- MannKind (MNKD) received a sector perform investment rating from RBC Capital Markets as the firm initiated coverage of the developer of inhaled therapeutic products for patients with endocrine and orphan lung diseases.

RBC set its price target on MannKind's stock at $5 per share, above its Thursday closing price of $4.03.

The firm highlighted MannKind's lead product, Afrezza, which is a rapid-acting inhaled insulin targeting the meal-time insulin market. "Afrezza still operates in a challenging market, but with continued execution we believe MNKD can leverage its

base of [about] 3,000 prescribers to continue to grow share," RBC said.

MannKind's Tyvaso DPI for the treatment of pulmonary arterial hypertension, meanwhile, "represents a meaningful potential source of future royalty income," the firm said.

However, noting the stock has more than tripled in price over the past year, the firm added "we believe both products are largely priced into shares, but pipeline optionality leaves us with an upward bias."

Beyond expansion opportunities for Afrezza, MannKind has "a relatively deep early-stage pipeline that includes four pre-clinical orphan lung programs (one of which will move into Phase 1 this year) and two other partnered programs," RBC said. While the firm is excluding the early-stage programs from its estimates for MannKind pending additional information, it said "the potential value is real."

On average, analysts polled by Capital IQ have a buy investment rating on MannKind's shares, with price targets ranging from $5 to $8.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: www.mtnewswires.com/contact-us)

[mango]

May 19, 2021 15:09:51 GMT -5 wyattdog said:

MannKind Initiated at Sector Perform by RBC, Price Target Set at $5/Share
9:36 AM ET, 05/14/2021 - MT Newswires
09:36 AM EDT, 05/14/2021 (MT Newswires) -- MannKind (MNKD) received a sector perform investment rating from RBC Capital Markets as the firm initiated coverage of the developer of inhaled therapeutic products for patients with endocrine and orphan lung diseases.

RBC set its price target on MannKind's stock at $5 per share, above its Thursday closing price of $4.03.

The firm highlighted MannKind's lead product, Afrezza, which is a rapid-acting inhaled insulin targeting the meal-time insulin market. "Afrezza still operates in a challenging market, but with continued execution we believe MNKD can leverage its

base of [about] 3,000 prescribers to continue to grow share," RBC said.

MannKind's Tyvaso DPI for the treatment of pulmonary arterial hypertension, meanwhile, "represents a meaningful potential source of future royalty income," the firm said.

However, noting the stock has more than tripled in price over the past year, the firm added "we believe both products are largely priced into shares, but pipeline optionality leaves us with an upward bias."

Beyond expansion opportunities for Afrezza, MannKind has "a relatively deep early-stage pipeline that includes four pre-clinical orphan lung programs (one of which will move into Phase 1 this year) and two other partnered programs," RBC said. While the firm is excluding the early-stage programs from its estimates for MannKind pending additional information, it said "the potential value is real."

On average, analysts polled by Capital IQ have a buy investment rating on MannKind's shares, with price targets ranging from $5 to $8.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: www.mtnewswires.com/contact-us)

I disagree.

Considering the fact that ~70% of current Tyvaso users will be converting within the first 4 months post-FDA approval, combined with the fact that additional indications are incoming (ILD, COPD, IPF) which will add tens of thousands, possibly >100K additional patients, we are looking at well over $100M in annual royalties. We will see significant royalties just after the first 4 months when 70% of current Tyvaso users convert. This also does not include the manufacturing profits that we will see.

Clearly, Tyvaso DPI has not been priced into the current PPS.

[cedafuntennis]

Also the economy of scale from Danbury utilization. Until now, all expenses were linked to Afrezza.  Now, most of the costs will be distributed and reimbursed by the other partners, which will reduce the capital expenses attributed to Afrezza and reduce the break-even. There are other financial benefits related to these partnerships that are certainly not factored in.

[georgethenight2]

May 19, 2021 16:46:11 GMT -5 mango said:

May 19, 2021 15:09:51 GMT -5 wyattdog said:

MannKind Initiated at Sector Perform by RBC, Price Target Set at $5/Share
9:36 AM ET, 05/14/2021 - MT Newswires
09:36 AM EDT, 05/14/2021 (MT Newswires) -- MannKind (MNKD) received a sector perform investment rating from RBC Capital Markets as the firm initiated coverage of the developer of inhaled therapeutic products for patients with endocrine and orphan lung diseases.

RBC set its price target on MannKind's stock at $5 per share, above its Thursday closing price of $4.03.

The firm highlighted MannKind's lead product, Afrezza, which is a rapid-acting inhaled insulin targeting the meal-time insulin market. "Afrezza still operates in a challenging market, but with continued execution we believe MNKD can leverage its

base of [about] 3,000 prescribers to continue to grow share," RBC said.

MannKind's Tyvaso DPI for the treatment of pulmonary arterial hypertension, meanwhile, "represents a meaningful potential source of future royalty income," the firm said.

However, noting the stock has more than tripled in price over the past year, the firm added "we believe both products are largely priced into shares, but pipeline optionality leaves us with an upward bias."

Beyond expansion opportunities for Afrezza, MannKind has "a relatively deep early-stage pipeline that includes four pre-clinical orphan lung programs (one of which will move into Phase 1 this year) and two other partnered programs," RBC said. While the firm is excluding the early-stage programs from its estimates for MannKind pending additional information, it said "the potential value is real."

On average, analysts polled by Capital IQ have a buy investment rating on MannKind's shares, with price targets ranging from $5 to $8.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: www.mtnewswires.com/contact-us)

I disagree.

Considering the fact that ~70% of current Tyvaso users will be converting within the first 4 months post-FDA approval, combined with the fact that additional indications are incoming (ILD, COPD, IPF) which will add tens of thousands, possibly >100K additional patients, we are looking at well over $100M in annual royalties. We will see significant royalties just after the first 4 months when 70% of current Tyvaso users convert. This also does not include the manufacturing profits that we will see.

Clearly, Tyvaso DPI has not been priced into the current PPS.

Pure and simple, analysts are not in the game as others. They say this and mean that. While $mnkd has been lack luster in terms of Afrezza sales, it is temporarily going to take a seat to Tyvaso. If projections are not false, royalities will eclispe Afrezza sales in less than 1 year. With that, who in their right mind thinks everything is priced in? Greedy and stupid analysts.