Jefferies reiterates MannKind at hold

MannKind Corp. was reiterated by Jefferies & Co., Inc. analyst Adam A. Walsh at a hold rating, and the price target was raised to $16 from $12 after the company announced positive top-line Technosphere inhaled insulin phase 2b dose-response trial results in patients with type 2 diabetes. Jefferies said it thinks Pfizer's recent purchase of full rights to Exubera could open up partnership discussions between MannKind and sanofi-aventis, which could alleviate high cash burn. Shares of the Valencia, Calif., biopharmaceutical company were up $1.33, or 8.32%, at $17.32 on volume of 1,175,444 shares versus the three-month running average of 206,484 shares. (Nasdaq: MNKD)

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