Why MannKind Corporation Stock Is Popping Today
Shares of MannKind Corporation (NASDAQ: MNKD) are rising sharply on Wednesday thanks to bullish commentary from a Wall Street analyst. As of 2:37 p.m. EST, the biopharmaceutical company's shares were up by 10.8%, after rising by as much as 18.4% earlier in the day.
BTIG analyst Robert Hazlett doubled his price target for MannKind to $8, up from $4. The analyst also kept a buy rating on the stock. As of this writing, the company's shares are changing hands for $5.84 apiece, meaning Hazlett's price target still represents a juicy premium over MannKind Corporation's current levels. Why is the analyst so bullish on this small-cap biopharmaceutical company? One of the main reasons behind Hazlett's enthusiasm is MannKind's Treprostinil Technosphere (also know as Tyvaso DPI), a potential treatment for idiopathic pulmonary fibrosis that the company is developing in collaboration with United Therapeutics.
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Source Fool.com
