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Why MannKind Shares Are Up Nearly 5%

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MannKind Corporation (NASDAQ: 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.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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