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Fly News Breaks for November 4, 2015
MNKD
Nov 4, 2015 | 06:22 EDT
RBC Capital downgraded MannKind two notches to Underperform from Outperform and lowered its price target to $1 from $9 on shares. Analyst Adnan Butt has reduced Afrezza sales and peak sales following a physician survey. Butt said patient interest remains low, prescriptions appear to get lost due to payer hurdles, and patient-out-of-picket costs are perceived to be higher than other insulin products. The analyst sees only modest market share growth and reduced his Afrezza sales ramp estimate.
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