Today In Biotech: MannKind Corporation (MNKD) | AcelRx Pharmaceuticals (ACRX) | LaJolla Pharmaceutical Company (LJPC) | Gilead Sciences (GILD)

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MannKind Stock Falls On Piper Jaffray Downgrade

MannKind Corporation (NASDAQ: MNKD)

MannKind is having a rough day in the market today after Piper Jaffray downgraded the stock from a “Neutral” rating to an “Underweight” rating. According to Piper Jaffray, the reason for the decline surrounds new opinions of Afrezza. However, I think they missed this one in a big way. The analyst mentioned that Piper Jaffray contacted 5 physicians to ask questions about their opinions of Afrezza. Sure, that’s all fine and dandy, but 5 data points is statistically irrelevant! To come up with the real picture, Piper Jaffray would have to survey at least 30 physicians. I’m sure such a well known analyst knows a thing or two about quality statistics, but for some reason, they have decided not to exercize this knowledge, leading to manipulation and unwarranted declines. Currently (1:29), MNKD is trading at $3.72 per share after a loss of 8.60%.

AcelRx Pharmaceuticals Declines As Talks With The FDA Come To A Close

AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)

AcelRx has been in talks with the FDA about their plans to resubmit the new drug application for Zalviso. However, those talks have come to a close and the result was not what ACRX or its investors were looking for. Unfortunately, ACRX will have to perform yet another study on the drug before it will be considered for review by the FDA. As a result, the stock fell in the market today. Currently (1:33), ACRX is trading at $3.96 per share after a loss of 3.06%.

LaJolla Pharmaceutical Company Declines | Bulls Aren’t Worried

LaJolla Pharmaceutical Company (NASDAQ: LJPC)

LaJolla Pharmaceutical Company is experiencing declines today, however, the bulls on the stock aren’t concerned in the least. The reality is that after an analyst gave the stock’s target price a boost yesterday, LJPC climbed in a big way – gaining more than 25% in a single trading session. When these things happen, it’s important to remember that price movement in the market tends to happen through a series of overreactions. Therefore, the massive gains yesterday were a bit of an overreaction.  Today, the stock is correcting, bringing the price down to a more sustainable rate before growth can continue. Currently (1:37), LJPC is trading at $43.58 per share after a loss of 0.73% so far today.

Gilead Sciences Discount Won’t Last Forever

Gilead Sciences, Inc. (NASDAQ: GILD)

Gilead Sciences is an incredibly strong stock and, thanks to investor fears earlier this year, it’s trading at an incredible discount. The simple fact is that investor fears over the HCV franchise proved to be unfounded but they did bring the stock down to a PE ratio that’s well below 10. That’s a great discount, but the discount won’t last forever. So, you may want to jump on it now!

[Image Courtesy of Wikipedia]

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