Skip to main content

Market Overview

What's Afrezza's Ultimate Potential For MannKind?

What's Afrezza's Ultimate Potential For MannKind?

In a report published Thursday, RBC Capital Markets analyst Adnan Butt commented that MannKind Corporation (NASDAQ: MNKD) has seen its Afrezza slow to take off and first quarter sales are likely to miss consensus estimates.

Butt noted that the consensus estimate for MannKind is approximately $3.9 million, which is based on IMS estimates of approximately $0.2 million. The analyst said that this could be too high unless there is inventory build. In addition, 2015 full year sales expectations of $49 million also appear high based on trajectories implied by third-party data.

Butt said that he had expected a "tough slog" but nevertheless he lowered his Afrezza sales forecasts for 2015 to $5 million (from $46 million), for 2016 to $118 million (from $150 million), and for 2019 to $539 million (from $845 million), while peak sales are now forecasted in the $2 billion to $3 billion range versus $4 billion previously forecasted.

Nevertheless, the analyst suggested that the concept underlying Afrezza "remains elegant" and as long as the post-approval studies read clean, it will be a "big drug."

Looking forward, the analyst identified three potential catalysts for the stock:

1. European Union filing plans in 2015 in which MannKind will count on Sanofi SA (NYSE: SNY) for an MAA filing where visibility on approval would be a positive.

2. Afrezza post-approval study details as timelines have implications for label expansion.

3. Launch trajectory over the next 12-18 months.

Shares remain Outperform rated with a price target lowered to $10 from a previous $13.

Latest Ratings for MNKD

Mar 2021SVB LeerinkMaintainsOutperform
Dec 2019OppenheimerInitiates Coverage OnOutperform
May 2019BTIG ResearchInitiates Coverage OnBuy

View More Analyst Ratings for MNKD
View the Latest Analyst Ratings


Related Articles (MNKD)

View Comments and Join the Discussion!

Posted-In: Afrezza RBC Capital Markets SanofiAnalyst Color Price Target Analyst Ratings Best of Benzinga

Latest Ratings

LRCXArgus ResearchMaintains725.0
ROSTLoop CapitalMaintains145.0
BURLLoop CapitalMaintains365.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at