Brinson Patrick Starts MannKind (MNKD) at Market Outperform

December 3, 2012 10:25 AM EST
Get Alerts MNKD Hot Sheet
Price: $0.65 -2.99%

Rating Summary:
    5 Buy, 4 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Brinson Patrick initiates coverage on MannKind (NASDAQ: MNKD) with a Market Outperform. PT $6.00.

The analyst comments, "MannKind Corporation's rapid-acting insulin, Afrezza, is currently in two Phase 3 pivotal trials with their handheld drug delivery device called Dreamboat. We believe the two Complete Response letters they received with their previous device has created a buying opportunity for investors today. Following a completion of a financing that carries them through 2013, we recommend investors begin accumulating MNKD shares."

With a $33 billion worldwide branded diabetes market opportunity and the increasing pressures on major pharma's in the diabetes segment, Brinson Patrick's analyst believes Afrezza is in position to reach $1 billion in 2016 US revenues.

The $6.00 price target based on the mean value of their 2014 to 2018 EPS target.

For an analyst ratings summary and ratings history on MannKind click here. For more ratings news on MannKind click here.

Shares of MannKind closed at $2.13 yesterday.

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