RBC Capital downgrades MannKind stock rating on royalty concerns
#MannKind #RBC Capital #Stock Downgrade #Tyvaso DPI #Royalty Concerns #United Therapeutics #Pharmaceutical Stocks #Market Analysis
📌 Key Takeaways
- RBC Capital downgraded MannKind stock rating to Sector Perform from Outperform
- Price target reduced to $3.50 from $7.50
- Stock has plunged 41% over the past week
- Concerns center on Tyvaso DPI royalty outlook and pediatric product approvals
- United Therapeutics' potential SMI treprostinil device launch poses significant risks
📖 Full Retelling
RBC Capital downgraded MannKind (NASDAQ:MNKD) stock rating to Sector Perform from Outperform and reduced its price target to $3.50 from $7.50 on March 2, 2026, citing concerns about the Tyvaso DPI royalty outlook and revenue inflection from potential pediatric product approvals. The downgrade comes as MannKind's stock has plummeted 41% over the past week, trading at $3.28 with a market capitalization of $1.01 billion. The firm expressed particular concern about United Therapeutics' pursuit to launch a SMI treprostinil device in 2027, which could significantly impact MannKind's Tyvaso DPI royalties and collaboration revenues. RBC Capital noted that data on the Tyvaso DPI royalty outlook is not expected to be available until 2027, creating uncertainty for investors. MannKind's dependence on United Therapeutics and Tyvaso DPI has decreased following the SCPH acquisition, though United Therapeutics revenues still contributed approximately 53% to fourth-quarter 2025 revenues. The company recently reported its Q4 2025 earnings with revenue of $112 million, surpassing forecasts by 14.35%, though earnings per share fell short at $0.01 compared to the expected $0.02. Despite the EPS miss, the strong revenue growth appeared to drive some positive sentiment among investors.
🏷️ Themes
Stock Rating Changes, Pharmaceutical Royalties, Market Volatility
📚 Related People & Topics
RBC Capital Markets
Global investment bank
RBC Capital Markets is a global investment bank providing services in banking, finance, and capital markets to corporations, institutional investors, asset managers, and governments globally. Locations span 55 offices in 15 countries across North America, the UK, Europe, and the Asia-Pacific region....
Treprostinil
Chemical compound
Treprostinil, sold under the brand names Remodulin for infusion, Orenitram for oral, and Tyvaso for inhalation among others, is a vasodilator that is used for the treatment of pulmonary arterial hypertension. Treprostinil was approved for use in the United States in May 2002.
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold prices jump 2% amid widening US-Israel conflict with Iran Asia stocks slide as US-Iran strikes batter risk appetite Middle East tensions rise as Iran promises retaliation $100+ oil back in play if Hormuz disruption worsens: analysts (South Africa Philippines Nigeria) RBC Capital downgrades MannKind stock rating on royalty concerns By Investing.com Analyst Ratings Published 03/02/2026, 03:24 AM RBC Capital downgrades MannKind stock rating on royalty concerns 0 MNKD 1.23% UTHR 0.06% Investing.com - RBC Capital downgraded MannKind (NASDAQ:MNKD) to Sector Perform from Outperform and cut its price target to $3.50 from $7.50. The stock has plunged 41% over the past week, trading at $3.28 with a market cap of $1.01 billion. The firm said it is downgrading the shares as it awaits further clarity on the Tyvaso DPI royalty outlook and the degree of revenue inflection associated with potential approvals for pediatric Afrezza and the FUROSCIX autoinjector. United Therapeutics ’ pursuit to launch a SMI treprostinil device, if approved, in 2027 and an apparent decision to not conduct IPF bridging studies present significant risks to MannKind ’s Tyvaso DPI royalties and collaboration revenues, RBC Capital said. Data on the Tyvaso DPI royalty outlook is not expected to be available until 2027, the firm noted. MannKind’s dependence on United Therapeutics and Tyvaso DPI has decreased following the SCPH acquisition, though United Therapeutics revenues still contributed approximately 53% to fourth-quarter 2025 revenues, RBC Capital said. In other recent news, MannKind Corporation reported its fourth-quarter 2025 earnings, revealing a mixed financial performance. The company achieved a revenue of $112 million, surpassing forecasts by 14.35%. However, MannKind’s earnings per share fell short, reporting $0.01 compared to the expected $0.02. Despite the EPS miss, the strong revenue growth seemed to drive positive sentiment amon...
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