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Why The New MannKind Management Could Focus On R&D, Not A Potential Sanofi Merger

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Why The New MannKind Management Could Focus On R&D, Not A Potential Sanofi Merger
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Speaking to Benzinga, Griffin Securities Analyst Dr. Keith Markey said that after MannKind Corporation (NASDAQ: MNKD) founder Alfred Mann retires from his role as CEO, the new management will probably not pursue a merger with Sanofi SA (ADR) (NYSE: SNY).

"I think what they’re going to do next is actually build out their R&D pipeline," he said.

Shares of MannKind were trading down 5 percent, but Markey doesn’t think that’s related to the retirement announcement.

"Frankly, a 3 percent or even a 5 percent change in the value of the stock doesn’t mean anything. It changes that much every day practically, so I would say it’s not even worth talking about," he said.

Sanofi, contrast, was trading 0.5 percent up in Monday's session.

Image credit: Public Domain

Latest Ratings for MNKD

DateFirmActionFromTo
Nov 2017Maxim GroupDowngradesBuyHold
Oct 2017H.C. WainwrightInitiates Coverage OnBuy
Aug 2017Maxim GroupInitiates Coverage OnBuy

View More Analyst Ratings for MNKD
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Posted-In: Griffin Securities Analyst Keith Markey MannKind Corporation SanofiAnalyst Color Exclusives Analyst Ratings Trading Ideas Best of Benzinga

 

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