UPDATE: Brinson Patrick Initiates Coverage on MannKind - MannKind (NASDAQ:MNKD)

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

In a note released Tuesday, Brinson Patrick Initiated coverage on

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

MannKind

(NASDAQ: MNKD) at Market Outperform and announced a $12 price target.Brinson Patrick analyst Christopher James emphasized the expected FDA approval of the diabetes drug Afrezza as the main driver for MannKind's Outperform rating. Commenting on the likelihood of Afrezza's FDA approval James said, "The AdCom voted 13 - 1 and 14 - 0 in favor of approving Afrezza for type-1 and type-2 diabetes, respectively. While the FDA is under no obligation to follow these recommendations, we have a high level of conviction for approval."James acknowledged that there has been a three-month extension on Afrezza's PDUFA date, but he sees this as an investment opportunity rather than a misfortune. Speaking on this, James said, "We are not entirely surprised by the 3 month PDUFA extension, which we view as a buying opportunity ahead of a low-risk approval event."