MannKind Corporation (NASDAQ:MNKD) shares increased more than 2% in pre-market trading to $6.25 after Shaunak Deepak, an analyst at Jefferies, reiterated a Buy rating on the stock with a $9 price target. Investors are excited about Afrezza, the first inhalable form of insulin for people with diabetes, but are still voicing concern that many physicians have not been made aware of the breakthrough treatment. Out of the five analysts polled by TipRanks, two rate MNKD a Buy, two rate the stock a Hold, and one recommends a Sell. On average, the analysts have an average 12-month price target of $6.50, marking a 6% upside from where the stock is currently trading.
Seadrill Ltd (NYSE:SDRL) shares dropped -1.75% in pre-market trading to $12.37 after the stock received a Sell rating from Wells Fargo and Canaccord Genuity. The offshore drilling company has been struggling to recover after a year of low and tumultuous oil prices. The 12-month price target consensus on the stock is $12, marking a -4% downside from where SDRL is currently trading. Out of the six analysts covering the stock, three recommend Sell; two recommend Hold; and one recommends Buy.
Receptos Inc (NASDAQ:RCPT) shares increased 2.8% in pre-market trading to $167.50 after Wedbush analyst Liana Moussatos reiterated an Outperform rating on the stock with a $211 price target. Moussatos estimates that full results from the maintenance portion of the TOUCHSTONE trial will become available this year, which is testing RPC1063 to treat inflammatory bowel disease. All three analysts with open ratings on the stock rate it a Buy with a 12-month average price target of $217.67, marking a 33% upside from where the stock is currently trading.
Plasmatech Biopharmaceuticals Inc (NASDAQ:PTBI) shares soared 10.55% in pre-market trading to $8.00 following an announcement that the pharmaceutical company licensed an agreement for adeno-associated virus, or AAV, a gene therapy to treat patients with juvenile Batten disease. PlasmaTech is also in the process of developing AAV therapies for Sanfilippo syndromes.