H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on MannKind (MNKD) today and set a price target of $4. The company’s shares closed yesterday at $1.76.
Livnat noted:
“Our $4 target is based on a DCF reflecting only U.S. Afrezza sales, assuming a strong sales acceleration in 2020 and beyond, and peak potential of approximately $400M. We apply a 14% WACC discount rate, and 2% terminal growth beyond 2026 (or a 6x terminal EBITDA multiple).”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 5.5% and a 51.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Pacira Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MannKind with a $3 average price target, implying a 70.5% upside from current levels. In a report issued on February 22, Leerink Partners also initiated coverage with a Buy rating on the stock with a $3 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $3.15 and a one-year low of $0.94. Currently, MannKind has an average volume of 2.48M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MannKind Corp. is a biopharmaceutical company. It focuses on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer. The company was founded by Alfred E. Mann on February 14, 1991 and is headquartered in Westlake Village, CA.
