MannKind Corporation (NASDAQ: MNKD)
Following the recent declines that we’ve seen from the stock, MannKind is having a great day in the market today. As with most MNKD price movement, today’s gains can be tied to Afrezza. Essentially, Physicians have provided feedback in a survey from Jefferies; and the feedback was overwhelmingly positive. Today, we’ll talk about what physicians are saying, how the market is reacting, and what we can expect to see from MNKD moving forward. So, let’s get right to it.
What Physicians Have To Say About MannKind’s Afrezza
Recently, Jefferies took a survey among several endocrinologists and physicians. As a matter of fact, the sample size of endocrinologists and physicians was over 50. In their responses, 65% of the physicians surveyed said that they not only knew about Afrezza, the type 1 diabetic inhaled insulin; and more importantly, they expect to use the drug more frequently moving forward. While many analysts have downgraded MannKind stock recently, the data from the survey has provided reason for Jefferies to maintain it’s “Buy” rating on MNKD with the current target price of $9 per share.
What We’re Seeing In The Market Today
MannKind is having a great day in the market today. Following the release of the survey data from Jefferies, the company’s stock quickly went into bullish action. Currently (10:57), MannKind is trading at $4.33 per share after a gain of 8.39% so far today.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see great things out of the MNKD stock; both in the short term and the long term perspective. Here’s how I see it going…
- Short Term – In the short run, I’m expecting to see more growth from MannKind. While it’s important to remember that as a small-cap biotech stock, MannKind will most likely see quite a bit of price volatility, it’s also clear that investors are loving the news from Jefferies. As a result, we may see a dip from today’s highs; but that will most likely be followed by more gains!
- Long Term – In the long run, my outlook for MNKD remains unchanged. I’ve talked about my long term outlook for the stock several times. Nonetheless, it’s a great outlook overall. First off, I’m incredibly impressed with what the company has been able to accomplish with Afrezza. There’s no doubt that sales are moving slowly, but there’s also no doubt in my mind that sales will pick up soon as the company starts the marketing plan. However, my outlook goes a bit further than Afrezza. The reality is that the inhaled insulin represents much more than a diabetes treatment, it represents the ability to deliver injection only medications through an inhaled powder. MannKind is already testing this ability with other medications, and is likely to show positivity in these tests. While most may be looking at MannKind as a company that’s changing diabetes treatments, I look at the company as one that’s innovating a new way to deliver medications in a less-invasive way. In the long run, I believe there’s quite a bit of value in that.
What Do You Think?
Where do you think MNKD is headed and why? Let us know in the comments below!