|Written by GSCR Staff|
|Wednesday, 20 March 2013 10:43|
Good morning! Today’s stock is MannKind Corporation (MNKD – MNKD - $3.31) an innovative bio-tech that is a development stage biopharmaceutical company, that engages in the discovery, development, and commercialization of therapeutic products for diabetes and cancer in the United States.
Diabetes is a becoming an epidemic in the United States and internationally. Type 2 diabetes, which is correlated to obesity, is growing at alarming rates. The CDC predicts that by 2050 20-33% of Americans will be diabetic.
Mannkind is developing its lead product, AFREZZA, an inhaled powder that is designed to be a quick acting insulin therapy. AFREZZA is in late stage clinical investigation for adults with both type 1 and type 2 diabetes for control of hyperglycemia. Additionally, the company is developing MKC1106-MT, an investigational cancer immunotherapy product, which is in Phase II clinical trials; and MKC204, which is in preclinical development stage for the treatment of malignancies and inflammatory diseases.
The stock is trading under gigantic volume, averaging 4 million shares per day over the last three months. There is some huge accumulation going on here. The chart analysis is very bullish, especially for EMA, and MNKD has climbed from $1.89 in late October to its present levels. All of these factors make this stock attractive for the next quarter or so, as we believe the stock has room to get to the $5.00 range by the end of 2Q13.
Have a great day!
Disclosure: Goldman Small Cap Research analysts are neither long nor short these shares but may elect to purchase the stock within the next 48 hours.
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