Why The New MannKind Management Could Focus On R&D, Not A Potential Sanofi Merger
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
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 2022 | HC Wainwright & Co. | Maintains | Buy | |
| May 2021 | RBC Capital | Initiates Coverage On | Sector Perform | |
| Mar 2021 | SVB Leerink | Maintains | Outperform |
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