This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MannKind Conference on Insulin Inhalers Has Investors Breathing Easy: StockTwits

NEW YORK (TheStreet) -- Analysts and investors are gaining confidence in MannKind  (MNKD). CEO Alfred Mann updated the investment community at a health care conference Wednesday about the progress of the biotech company's insulin inhaler, Afrezza, which is seeking FDA approval. And investors on StockTwits.com were impressed by his speech and promise of partnerships to distribute the drug.

$MNKD Josh Here @mantrade Conference Quote "There will be 2 partners, global and US." Bullish ? brad simon (@greglawguy) May. 14 at 01:41 PM

The stock was the most-discussed ticker on StockTwits.com Wednesday afternoon. Bullish sentiment increased to 96%, according to site analytics. Shares rose nearly 7% by the end of trading, closing at $7.01 on Wednesday.

Investors said that Mann sounded confident that FDA approval would come soon. They argued that a drug that would allow diabetics to forgo needles, at least at mealtimes, would be considered needed enough to warrant fast track approval. An unwillingness to administer repeated shots is a main reason diabetics do not comply with dosing guidelines.

$MNKD @dollarbills288 No More Needles- This Will Revolutionize The Diabetes Market. AGREE. ? todd pressman (@supermanjoe) May. 14 at 02:35 PM

Initially, investors raised some concerns that the FDA would focus on lung complications from the insulin inhaler and not approve the product for sale in the U.S. However, an FDA committee voted unanimously last month to approve the drug for people with type 2 diabetes. All but one committee member recommended approving the drug for type 2 diabetes.

$MNKD Whether it goes down or up, you're still going to make money - as long as you're in. FDA approval could come at anytime. ? Justin Lynch (@MyPlainUsername) May. 14 at 02:23 PM

An analyst upgrade also helped fuel bullish sentiment. On Wednesday, Piper Jaffray upgraded MannKind from underweight to neutral. It raised its price target $4.50 to $6.50.

Some investors pointed out that MannKind is still something of a speculative lottery stock. The company's success rides nearly entirely on Afrezza approval, as it has only two drugs in the pipeline, both inhaled forms of insulin. If the FDA decides that lung complications are too severe to approve the drug, then Mannkind would have little value.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
MNKD $6.64 1.84%
AAPL $129.09 0.49%
FB $79.75 0.99%
GOOG $571.34 2.32%
TSLA $197.32 -2.96%

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs