MannKind Corporation (NASDAQ:MNKD) announced the appointment of Dr. Raymond Urbanski as its Chief Medical Officer. As Chief Medical Officer, Dr. Urbanski will lead MannKind’soverall drug development activities and will be a member of the Executive Leadership Team.
“Dr. Urbanski is a terrific addition to our team and I am very pleased to have a person of his caliber as part of the organization,” said MannKind’s Chief Executive Officer, Hakan Edstrom. “Ray’s experience in drug development across multiple therapeutic areas, combined with his proven leadership capabilities, will be invaluable to us as we drive growth through our product technology platforms.”
Dr. Urbanski has more than 25 years of research, clinical and pharmaceutical industry experience developing numerous new drugs and indications across oncology, rheumatology, cardiology, endocrinology, and immunology. He has held CMO roles at Mylan and Metabolix. Previously he was Vice President at Pfizer, and Vice President and CMO at Suntory Pharmaceuticals. He earned both his MD and Ph.D., Pharmacology and Toxicology from the University of Medicine and Dentistry of New Jersey -New Jersey Medical School. (Original Source)
Shares of MannKind Corporation closed last Friday at $3.98. MNKD has a 1-year high of $10.08 and a 1-year low of $3.46. The stock’s 50-day moving average is $5.17 and its 200-day moving average is $5.45.
On the ratings front, MannKind has been the subject of a number of recent research reports. In a report issued on August 6, Piper Jaffray analyst Joshua Schimmer reiterated a Hold rating on MNKD, with a price target of $3.50, which represents a potential downside of 12.1% from where the stock is currently trading. Separately, on August 3, RBC’s Adnan Butt maintained a Buy rating on the stock and has a price target of $9.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Adnan Butt have a total average return of 6.9% and -4.4% respectively. Schimmer has a success rate of 51.9% and is ranked #601 out of 3728 analysts, while Butt has a success rate of 47.4% and is ranked #3331.
Overall, one research analyst has rated the stock with a Sell rating, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $4.50 which is 13.1% above where the stock closed last Friday.
MannKind Corp is a development stage company engaged in the discovery, development, and commercialization of therapeutic products for diseases such as diabetes.