MLV Reiterates Hold On MannKind As Afrezza Launch Is In Full Swing
In a research report published Friday, MLV analyst Arlinda Lee reiterated a Hold rating on MannKind Corporation (NASDAQ:MNKD) with a price target of $7.00, which represents a potential upside of 33% from where the stock is currently trading.
Lee noted, “Much has been made about partner Sanofi’s reticence on its US launch of Afrezza rapid-acting inhaled insulin. After conversations with management, we believe MNKD and SNY are on track for their 1Q launch of Afrezza. As the Company works to make physicians aware of Afrezza’s benefits to a targeted diabetes population of 6 million patients, we look to NRx and TRx data for Afrezza as well as possible news regarding new pipeline products to be nearterm catalysts for MNKD stock.”
The analyst added, “Due to limited visibility on launch trajectory and costs, as well as accounting rules, we note investors should not expect to see revenues flowing into MNKD’s P&L until 2016, at the earliest.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Arlinda Lee has a total average return of 16.8% and a 65.0% success rate. Lee is ranked #578 out of 3426 analysts.