Back In The Channel Again

MNKD is back in that Fib channel between the .5 and .382 levels. This was a previous channel earlier in the year. Now that the financing deal is done, will it finally see a prolonged uptrend without much interruption?

"However, with fresh capital in hand, the company aims at advancing its current pipeline. This includes a Phase 3 clinical trial of its Afrezza inhaled insulin product in pediatric subjects. MannKind also explained that it wants to further the development of product candidates in its pipeline. The company may also use a portion of the proceeds for acquisitions or strategic investments in complementary businesses or technologies.

Even with the pullback, analysts seem to remain bullish on the company. SVB Leerink most recently adjusted its price target on the stock. It had previously issued a $3 target but upped it to $5. The firm also carries an Outperform rating on the stock.

Quote Source: Best Penny Stocks On Robinhood To Watch This Week If You Like Biotech


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