"VALUATION

We have used a discounted future value approach to calculating our 12-month price target for Mannkind stock. Specifically, we have applied a price-earnings multiple of 38 to the estimated 2015 profit of $0.37 to arrive at a future value of $14. That was discounted back one year at a rate of 28%, giving us a target price of $11.00 per share."

Looked for this on Friday but only saw it today. If your interested they list off their assumptions and on Type1&2, Market Penetration, Timelines and EU submission. See link below:

http://www.griffinsecurities.com/upload/reports/Griffin_MNKD_Research_Note_15May13.pdf

Its starting to look fun...but still waiting the "Clown Car dismount",

OOG