MannKind (NASDAQ: MNKD)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $2.75 price target on the stock.

Zacks‘ analyst wrote, “MannKind’s third quarter 2012 net loss of $0.22 per share was narrower than the year-ago loss of $0.31 and the Zacks Consensus Estimate of a loss of $0.23. We expect investor focus to remain on the fate of diabetes candidate, Afrezza, which is being developed in two trials. Management expects to complete the studies in the second quarter of 2013. Positive results would allow MannKind to file a new drug application by the third quarter of 2013. We are also impressed with the company’s deal with Colby, which is expected to safeguard MannKind’s financial interests while furthering pipeline development. However, we remain concerned about the company’s over dependence on Afrezza. We see limited upside from current levels and retain our Neutral stance on the stock. “

MNKD has been the subject of a number of other recent research reports. Analysts at Brinson Patrick initiated coverage on shares of MannKind in a research note to investors on Monday, December 3rd. They set an “outperform” rating and a $6.00 price target on the stock. Separately, analysts at Bank of America upgraded shares of MannKind from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 5th. They now have a $3.00 price target on the stock. Finally, analysts at JPMorgan Chase upgraded shares of MannKind from an “underweight” rating to a “neutral” rating in a research note to investors on Friday, November 2nd.

Shares of MannKind traded up 0.35% during mid-day trading on Wednesday, hitting $2.609. MannKind has a one year low of $1.57 and a one year high of $3.48. The stock’s 50-day moving average is currently $2.19. The company’s market cap is $521.2 million.

MannKind last announced its earnings results on Thursday, November 1st. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.24) by $0.02. Analysts expect that MannKind will post $-0.88 EPS for the current fiscal year.

http://localizedusa.com/2013/01/09/zacks-reaffirms-neutral-rating-on-mannkind-mnkd-3/