BofA/Merrill Lynch Remains Cautious on MannKind (MNKD) Ahead of Afrezza Launch
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Goldman Sachs Maintains Neutral Rating on MannKind (MNKD)
November 5, 2014 3:35 PM ESTGoldman Sachs maintained a Neutral rating on MannKind (NASDAQ: MNKD) with a price target of $6.00. Comments follow Q3 earnings and a related conference call.
Analyst Jay Olson said, "MNKDs 3Q earnings call focused on progression of the Afrezza partnership and commercialization plans. Beyond manufacturing, launch execution is in the hands of a joint steering committee with Sanofi, according to MNKD. As a result, management can only disclose limited details at this point so... More
MannKind (MNKD) Risk/Reward More Interesting Ahead of Afrezza Launch, Piper Jaffray Says
November 4, 2014 9:34 AM ESTPiper Jaffray analyst Joshua Schimmer lowered his price target on Neutral-rated MannKind (NASDAQ: MNKD) to $7.00 (from $9.50) following in-line Q3 results but notes as the Afrezza launch nears "things are getting more interesting."
Schimmer commented, "Affrezza has yet to launch and won't be a relevant... More
MannKind (MNKD) Posts Q3 Loss of 9c/Share
November 3, 2014 9:02 AM ESTMannKind (NASDAQ: MNKD) reported Q3 EPS of ($0.09), $0.13 worse than the analyst estimate of $0.04.
Cash and cash equivalents were $172.5 million at September 30, 2014, compared to $41.2 million in the second quarter of 2014. In the third quarter of 2014, the Company received:
$150.0 million in an upfront payment from Sanofi in connection with the closing of the collaboration and licensing agreement; $40.0 million from the Tranche 4 notes purchased by Deerfield in July 2014; and $17.3 million... More