UPDATE: RBC Capital Starts MannKind (MNKD) at Sector Perform
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RBC Capital analyst Daniel Busby initiates coverage on MannKind (NASDAQ: MNKD) with a Sector Perform rating and a price target of $5.00.
The analyst comments "MNKD’s Technosphere formulation technology allows for differentiated oral inhalation across a range of therapeutic areas. Lead product Afrezza has regained commercial momentum in the sizable mealtime insulin market, while Tyvaso DPI represents a meaningful potential source of future royalty income. Following the stock's ~250% move higher over the last 12 months, we believe both products are largely priced into shares, but pipeline optionality leaves us with an upward bias. We initiate coverage with a Sector Perform rating and $5 price target."
Shares of MannKind closed at $4.02 yesterday.
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