MannKind Corporation (NASDAQ: MNKD)
MannKind Corporation is having an incredibly strong time in the market at the moment. Early on, the stock was up, but not by much. However, minutes ago, we started to see a spike, bringing the stock into impressive gains. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to MNKD ahead.
What We’re Seeing From MNKD
As mentioned above, MannKind Corporation is off to an incredibly strong trading session today. Since the opening bell, the stock has been trading in the green. However, the impressive gains started just minutes ago as the stock spiked toward the top. Currently (10:26), MNKD is trading at $0.53 per share after a gain of $0.05 per share or 10.56% thus far today.
Why The Stock Is Climbing
As soon as we noticed the gains on MNKD, the CNA Finance team started digging to see if we could uncover the reason. While we did see that Zacks recently gave the company a rating of “Strong Buy”. However, the reaction to that had already taken place.
Another thing we found was prescription numbers for the week ending 11/25. Unfortunately however, these numbers weren’t very positive either. In fact, Total Afrezza prescriptions were down 24% at 223 and refills were down 13% at 128. These are concerning numbers for MannKind… surely they can’t be the cause of the gains.
What We’ll Be Watching Ahead
This one is very interesting to us, more or less because we can’t seem to dig up a valid reason for the gains. Nonetheless, we’ll keep digging. In particular, we want to know more about recent licensing agreements as well as plans with regard to bettering commercialization of Afrezza. The truth is that things are getting more and more concerning with every sales release. So, gains are largely unwarranted at the moment. We’ll keep an eye on the MNKD news and bring it to you as it breaks!
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