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Fly News Breaks for May 8, 2015
MNKD
May 8, 2015 | 11:18 EDT
Piper Jaffray analyst Joshua Schimmer cut his price target in half for shares of MannKind to $3.50 from $7.00. The company reported weaker than expected Q1 results and admitted that the Afrezza launch is below its expectations, Schimmer tells investors in a research note. The analyst has increased concerns regarding MannKind's financial position following the quarterly results and keeps a Neutral rating on the name. The stock is down 9c to $3.93 in morning trading.
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