MannKind price target upped by Jefferies

MannKind Corp. was maintained by Jefferies & Co. analyst Adam Walsh at an underperform rating but the price target was raised to $8 per share from $6 following a private stock sale that raised $175 million. Jefferies said while the financing alleviates some concern, there are still concerns about the lack of partners, dilution and no near-term drivers for the stock. MannKind shares Wednesday jumped $1.20, or 11.73%, to close at $11.43 on volume of 586,433 shares versus the three-month running average of 161,912 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.