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Post by mannmade on Aug 13, 2015 22:16:24 GMT -5
www.valuewalk.com/2015/08/mannkind-corporation-expects-afrezza-sales-to-pick-up-in-q4/MannKind Corporation Expects Afrezza Sales To Pick Up In Q4 MannKind's future (and whether it even has one) hangs on whether or not its only product on the market ever catches on. Analysts remain split on MannKind with most being at one or the other extreme end of the spectrum in their views. MannKind Afrezza MannKind says expect big things in Q4 Jefferies analyst Shaunak Deepak remains firmly in the bull camp on MannKind with a Buy rating and $9 per share price target on the inhaled insulin maker. The company's stock surged on Monday after a positive earnings surprise and comments on management that the fourth quarter should bring a significant increase in Afrezza sales. MannKind shipped $5.9 million worth of Afrezza during the June quarter. Unfortunately they may be setting MannKind stock up for a steep decline if the company doesn't make good on those comments. Marketing partner Sanofi is planning a big marketing push in the current quarter, which is why MannKind management expects sales in the fourth quarter will be significant. They're looking for an inflection point sometime between the middle of next month and the end of the year. Afrezza ramp fails to impress Since MannKind launched Afrezza earlier this year, sales have been underwhelming. In recent weeks, sales have remained low with the drug's share of the overall insulin market languishing in fractions of a percent. Deepak highlighted a number of factors which have been negatively impacted Afrezza sales. For example, doctors remain little-aware of Afrezza. Also patients must undergo lung function testing and receive preauthorization from their insurance companies before their doctors may prescribe it for them. MannKind and Sanofi are hoping to change these problems through their new direct-to-consumer marketing campaign. They have also expanded their sales team and are targeting more doctors to promote awareness among physicians. Deepak expects these efforts to be successful in making more doctors aware of Afrezza, which is an important step in getting them to take the steps necessary to prescribe it for their patients. The bear case on MannKind Goldman Sachs Group Inc (NYSE:GS) analyst Jay Olson and his team are as bearish on MannKind as Deepak is bullish on the insulin maker. They have a Sell rating and $2 per share price target on MannKind stock. The Goldman Sachs team noted that MannKind posted a net loss of $36.6 million on the collaboration with Sanofi for the drug. Thus far, MannKind's share of the net losses on Afrezza is $12.8 million, which the company has financed through a $175 million loan facility with Sanofi. They also point out that Afrezza's ramp is going much more slowly than the leading insulin brand, Exubera, did when it was launched in 2006. Prescriptions for Afrezza are half of what Exubera's were at this point of its launch. (Graph is courtesy Goldman Sachs.) mnkd In addition to highlighting their efforts to improve sales of the inhaled insulin, management also discussed refinancing the $100 million worth of convertible debt which is due Aug. 15, but no firm decision had been made yet as of Monday.
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Post by notamnkdmillionaire on Aug 13, 2015 22:40:59 GMT -5
Here's the problem. As long as Mannkind is tight lipped and at the mercy of Sanofi, investment firms aren't going to initiate coverage or really give Mannkind a fair shake due to not being open with them. That's how the game is played. The best hope is that Sanofi can clean up the label by showing that Afrezza is superior and or if they kick up the sales showing that Docs and insurance companies are on board.
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Post by newmnkdinvestor on Aug 13, 2015 22:51:52 GMT -5
Here's the problem. As long as Mannkind is tight lipped and at the mercy of Sanofi, investment firms aren't going to initiate coverage or really give Mannkind a fair shake due to not being open with them. That's how the game is played. The best hope is that Sanofi can clean up the label by showing that Afrezza is superior and or if they kick up the sales showing that Docs and insurance companies are on board. I agree institutions are not investing in social media reviews.
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Post by vestful on Aug 13, 2015 23:55:52 GMT -5
Prescriptions for Afrezza are half of what Exubera's were at this point of its launch. (Graph is courtesy Goldman Sachs.)
mnkd
In addition to highlighting their efforts to improve sales of the inhaled insulin, management also discussed refinancing the $100 million worth of convertible debt which is due Aug. 15, but no firm decision had been made yet as of Monday.[/quote]
Nonchalant FUD. Very little resemblance to Exubera. Many different variables including first and foremost the product, device and benefits. Different market, timing, company, etc. (Could go on for a while) Plus(and a big one), Sny can see what went wrong because of that history/failure. While the investment world may pick this apart daily it remains as one of greatest potential changes in modern medicine. Not giving up shares and will continue to add as appropriate.
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Post by vestful on Aug 14, 2015 0:06:17 GMT -5
Sorry, can't help myself but i will continue to add 2 years from now whoever holds the rights.
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Post by ezrasfund on Aug 17, 2015 14:56:22 GMT -5
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Post by BD on Aug 17, 2015 16:20:21 GMT -5
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Post by savzak on Aug 25, 2015 16:03:13 GMT -5
GOLDMAN SACHS REITERATED $2
MannKind Corporation Still Getting Pounded For Weak Sales Posted By: Michelle JonesPosted date: August 25, 2015 03:44:37 PMIn: StocksNo Comments
MannKind shares plunged again today after a bearish report from analysts at Goldman Sachs Group Inc (NYSE:GS). The insulin maker's stock is one of the more volatile ones on Wall Street, and for good reason. Either MannKind's future is excellent, or it's horrible and the company is heading for bankruptcy.
Shares of MannKind fell by as much as 5.66% to $3.38 per share today during regular trading hours. On Monday, the stock shot upward in early trades, only to tumble further and further as the day dragged on. This morning MannKind shares shot upward again, but they quickly reversed course and are on track to end the day with a decline.
MannKind still struggling to sell Afrezza
In a report dated Aug. 24, Goldman Sachs analysts Jay Olson, Jami Rubin and Ariel Herman, Ph.D. reiterated their Sell rating and $2 per share price target. Sales of Afrezza, MannKind's only product on the market, continue to disappoint. Weekly total prescription numbers are struggling to reach half of the number of Exubera prescriptions that are written weekly.
The Goldman Sachs team sees Exubera as the benchmark Afrezza much reach in terms of weekly prescription numbers. In six of the last 10 weeks, prescriptions of Afrezza have been at less than half of Exubera's prescription numbers. As a result, Olson and team are lower their sales estimates for Afrezza.
As a reminder, MannKind management expects sales of Afrezza to pick up in the fourth quarter. MannKind struggles with debt
MannKind had $100 million worth of convertible debt due Aug. 15, and analysts had been expecting for some time that the insulin maker would refinance that debt. The refinancing was delayed, however, and the Goldman Sachs team thinks the delay was because of how slowly the Afrezza sales launch is ramping.
The company has been struggling to stay on good terms with its creditors. MannKind management was able to roll $28 million of the debt into new convertible debt due in three years. They had been planning on exchanging $57 million of it in equity, but two days before it was due, they announced that $32 million of that was extended to Sept. 30. At that time, MannKind will attempt to exchange it for equity.
How much does MannKind owe this year?
Because of all these changes, it's unclear how much of this $100 million in debt the drug maker will have to pay off with cash before the end of the year. MannKind did have $107 million in cash and equivalents as of the end of June, however.
The Goldman Sachs team thinks the insulin maker could receive another $25 million milestone payment from Sanofi at some point during the third quarter in connection with the manufacturing of Afrezza. Also MannKind still has $30 million left that it can borrow from The Mann Group.
Because of all these debt issues, the analysts are concerned about how badly the slowness of the Afrezza launch is damaging the company's balance sheet.
www.valuewalk.com/2015/08/mannkind-corporation-still-getting-pounded-for-weak-sales/
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Post by 4allthemarbles on Aug 25, 2015 20:18:20 GMT -5
Let them FUD. I will BUY.
The stock price may be in the dumper now and for awhile. But in the end, we will win. And it will not have cost us our souls.
We've been here before. This too shall pass.
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Post by mssciguy on Aug 25, 2015 20:21:04 GMT -5
Let them FUD. I will BUY. The stock price may be in the dumper now and for awhile. But in the end, we will win. And it will not have cost us our souls. We've been here before. This too shall pass.
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Post by Chris-C on Aug 26, 2015 11:46:55 GMT -5
GOLDMAN SACHS REITERATED $2
MannKind Corporation Still Getting Pounded For Weak Sales Posted By: Michelle JonesPosted date: August 25, 2015 03:44:37 PMIn: StocksNo Comments
MannKind shares plunged again today after a bearish report from analysts at Goldman Sachs Group Inc (NYSE:GS). The insulin maker's stock is one of the more volatile ones on Wall Street, and for good reason. Either MannKind's future is excellent, or it's horrible and the company is heading for bankruptcy.
Shares of MannKind fell by as much as 5.66% to $3.38 per share today during regular trading hours. On Monday, the stock shot upward in early trades, only to tumble further and further as the day dragged on. This morning MannKind shares shot upward again, but they quickly reversed course and are on track to end the day with a decline.
MannKind still struggling to sell Afrezza
In a report dated Aug. 24, Goldman Sachs analysts Jay Olson, Jami Rubin and Ariel Herman, Ph.D. reiterated their Sell rating and $2 per share price target. Sales of Afrezza, MannKind's only product on the market, continue to disappoint. Weekly total prescription numbers are struggling to reach half of the number of Exubera prescriptions that are written weekly.
The Goldman Sachs team sees Exubera as the benchmark Afrezza much reach in terms of weekly prescription numbers. In six of the last 10 weeks, prescriptions of Afrezza have been at less than half of Exubera's prescription numbers. As a result, Olson and team are lower their sales estimates for Afrezza.
As a reminder, MannKind management expects sales of Afrezza to pick up in the fourth quarter. MannKind struggles with debt
MannKind had $100 million worth of convertible debt due Aug. 15, and analysts had been expecting for some time that the insulin maker would refinance that debt. The refinancing was delayed, however, and the Goldman Sachs team thinks the delay was because of how slowly the Afrezza sales launch is ramping.
The company has been struggling to stay on good terms with its creditors. MannKind management was able to roll $28 million of the debt into new convertible debt due in three years. They had been planning on exchanging $57 million of it in equity, but two days before it was due, they announced that $32 million of that was extended to Sept. 30. At that time, MannKind will attempt to exchange it for equity.
How much does MannKind owe this year?
Because of all these changes, it's unclear how much of this $100 million in debt the drug maker will have to pay off with cash before the end of the year. MannKind did have $107 million in cash and equivalents as of the end of June, however.
The Goldman Sachs team thinks the insulin maker could receive another $25 million milestone payment from Sanofi at some point during the third quarter in connection with the manufacturing of Afrezza. Also MannKind still has $30 million left that it can borrow from The Mann Group.
Because of all these debt issues, the analysts are concerned about how badly the slowness of the Afrezza launch is damaging the company's balance sheet.
www.valuewalk.com/2015/08/mannkind-corporation-still-getting-pounded-for-weak-sales/
It's taking every ounce of restraint I have not to launch into my typical rant about G-S. This time, apparently, Mr. Olson had to recruit some other people to provide him cover or "credibility". This is the same drivel from the same corrupt crew. I wonder if there is a set of ethical principles anywhere in the G-S house? Not that it would matter, because these guys are pigs.
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Post by mssciguy on Aug 26, 2015 11:59:25 GMT -5
Chris-C Last I heard, GS has the worst reputation of any investment bank. It's going to take a presidential administration that's not beholden to Wall Street to clear out the ex-GS federal staffers in many places including SEC enforcement. Is that even possible? (Stranger things have happened)
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Post by scottiemac on Aug 26, 2015 12:22:36 GMT -5
Bernie Sanders
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Post by mssciguy on Aug 26, 2015 12:42:58 GMT -5
Cute comment on ymb today "If GS thinks MNKD is only worth $2 per share, why do they own 700k shares" --- true?
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Post by mnholdem on Aug 26, 2015 14:22:50 GMT -5
Morningstar shows Goldman Sachs & Co bought 287,143 shares, which is listed as .21% of shares held. However, the last update for this was March 31, 2015.
In the same time period Goldman Sachs Asset Management, L.P. sold 38,951 shares, which is listed as .01 of shares held. Also updated: 3/31/15
Morningstar link (you'll need to click the institutions tab to view GS)
It seems to me that Goldman Sachs didn't file their transactions/holdings as required. All the other institutions were updated 6/30/15. Or are they able to persuade Morningstar to not post this info?
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