MannKind Price Target Jumps to $11 After Pediatric FDA Approval
MNKD•Wells Fargo raised its price target on MannKind by 192% to $11.00 from $3.77 after the FDA approved Afrezza for pediatric diabetes patients aged six and up. MannKind will offer Afrezza at $35.00 to patients under 23 to improve access.
1. Wells Fargo Raises Price Target
Wells Fargo increased its twelve-month price target for MannKind from $3.77 to $11.00, representing a 192% uplift on expectations for renewed top-line growth tied to Afrezza’s expanded label. Analyst projections now factor in broader patient adoption and improved revenue visibility through 2027.
2. FDA Grants Pediatric Approval for Afrezza
The FDA approved Afrezza for children and adolescents aged six and older, marking the first inhaled mealtime insulin option in over a century for this age group. Approval stems from Phase 3 data demonstrating efficacy and safety comparable to injectable insulins.
3. Access Program for Under-23 Patients
To address cost barriers, MannKind will offer Afrezza at a flat $35.00 price to patients under 23, regardless of insurance. This access program aims to accelerate uptake among pediatric and young adult populations and support adherence to mealtime dosing.
