MannKind price target upped by Jefferies

MannKind Corp. was upgraded by Jefferies & Co. analyst Adam Walsh to hold from underperform and the price target on the stock was raised to $15 per share from $8 following a positive FDA panel vote for the inhaled insulin Exubera in type 1 and type 2 diabetes. With a competing inhaled insulin product, Jefferies believes MannKind is likely to benefit from the vote by increasing investor confidence in the existence of an approval pathway for inhaled insulin products and attracting potential partners for the company's Technosphere Insulin product candidate. MannKind shares Friday were down $0.43, or 3.03%, at $13.78 on volume of 607,137 shares versus the three-month running average of 205,617 shares.

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