Piper Jaffray Maintains Underweight, $0.10 PT on MannKind (MNKD) Post Q2
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Piper Jaffray analyst Joshua Schimmer reiterated an Underweight rating and $0.10 price target on MannKind (NASDAQ: MNKD) following results after the close.
Schimmer commented, "After the close MNKD reported 2Q16 results ending the quarter with $63.7M in cash and cash equivalents, which will extend the company’s cash runaway into the first quarter of 2017. We still struggle to see how cash strapped MNKD will be able to adequately inflect rather abysmal Afrezza sales rapidly enough to offset its burn before having to turn back to shareholders for multiple incrementally dilutive financings. Reiterate UW."
Shares of MannKind closed at $1.00 yesterday.
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Related EntitiesPiper Jaffray, Joshua Schimmer
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