RBC Capital analyst Douglas Miehm raised the firm’s price target on MannKind (MNKD) to $8 from $7 and keeps an Outperform rating on the shares. The firm views the company’s announced acquisition of scPharmaceuticals (SCPH) positively as it adds a high-growth commercial asset with a large total addressable market of about $13B, diversifies MannKind revenue base, and the acquisition multiple is “attractive”, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MNKD:
- H.C. Wainwright positive on MannKind deal for scPharmaceuticals
- H.C. Wainwrights positive on MannKind deal for scPharmaceuticals
- Keurig Dr Pepper buys JDE Peet’s, Thoma Bravo to acquire Verint: Morning Buzz
- MannKind’s Strategic Acquisition of scPharmaceuticals: A Catalyst for Future Growth and Value Creation
- MannKind’s Strategic Acquisition and Growth Prospects: A Buy Rating by Yun Zhong