MannKind Corporation MNKD shares are trading higher $0.28 at $6.03 in Monday’s session. The rally is being attributed to a First Call rating upgrade earlier this morning.
The recommendation is accompanied by a $9.75 price target, according to 9 analysts in consensus.
The issue, which has had many false starts in the past, is back above $6.00 for the first time since November 28, when it ended that session at $6.15.
With a short interest of nearly 22 percent of float, any positive developments on the research and development front may ignite a furious rally.
It's possible the Street is anticipating some much-needed good news regarding the company's rapid acting inhaled insulin drug, Afrezza.
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