NEW YORK (TheStreet) -- Mankind (MNKD) shares are up 3.3% to $10.11 on Friday after analysts at RBC Capital initiated coverage with an "outperform" rating and $16 price target on the company.
The price target represents a 60% upside over the company's opening price today.
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With the rapid action insulin market currently valued at over $16 billion, the optimistic outlook rests on the shoulders of the company's potential breakthrough insulin inhaler Afrezza.
The company's stock price fell yesterday however after it announced that an Afrezza partnership may not happen until 6-8 weeks after the drugs approval.