MannKind Corporation Is Up: Is There Room Left For More Gains?
MannKind Corporation (NASDAQ:MNKD)
MannKind is having an incredible day in the market today. As market turmoil starts to subside, the stock is climbing; currently (2:15) trading at $4.00 per share after a gain of 3.09% so far. While we’re likely to see a slight correction bringing the stock down tomorrow, I think that it may finally be time for MNKD to start seeing some real gains. The reality is that concerns about Afrezza are starting to subside. The Direct to Consumer phase is in full swing at the moment and insurers are starting to pick up coverage on the medication. As a result MNKD are likely to see sales climb relatively soon; leading to profits for the company and gains for its stock. With that said, tomorrow we are likely to see dips. In my opinion, buying the dips is likely to prove to be a strong strategy on this stock.
Nanosphere Receives FDA Clearance
Nanosphere, Inc. (NASDAQ:NSPH)
Nanosphere is having an incredible day in the market today after announcing that they have received 510(k) clearance from the FDA. The clearance surrounds RP Flex; the first test of its kind. The new test features Nanosphere’s novelFlex software; a software that allows the 16 viral and bacterial targets identified by RP Flex to be reported as a full multiplex panel or in various user-defined subsets. This flexible panel concept addresses varied respiratory testing needs of labs and clinicians with a single comprehensive and cost effective solution. In the RP Flex testing, labs will only be required to pay for the targets that are ordered; ultimately driving down the cost of healthcare. Here’s what Paul Granato, Ph.D., had to say during the announcement…
“The demand and need for respiratory pathogen testing varies by season, geography, epidemiology and patient demographics… RPFlex is the first respiratory test that provides labs with the flexibility to choose and pay for only the microbial targets applicable to a given patient, which in turn allows them to practice better test stewardship and reduec healthcare costs.”
Following the news, NSPH climbed in a big way. Currently (2:23), the stock is trading at $3.00 per share after a gain of 11.11% so far today.
Gilead Sciences Presents A Great Buying Opportunity
Gilead Sciences, Inc. (NASDAQ:GILD)
Gilead Sciences, in my opinion, is one of the strongest stocks in biotech. After all, the company has complete control over the hepatitis C treatment space, plays a major role in the treatment of HIV and continues to innovate. Another thing that’s worth mentioning is that the stock has an incredibly low PE ratio; which means that the stock is incredibly undervalued. On top of the low PE ratio, market wide declines have brought the stock even further down; which is creating quite the buying opportunity. Currently (2:26), GILD is trading at $104.21 per share after a gain of 2.15% so far today. However, don’t expect this low price to last! Gains are on their way!
Immunomedics Climbs On Positive Phase 2 Data
Immunomedics, Inc. (NASDAQ:IMMU)
Immunomedics is having an incredible day in the market after announcing positive phase 2 study data from sacituzumab govitecam; the company’s lead investigational drug. Sacituzumab govitecan is an antibody drug conjugate which continues to produce durable responses in patients with metastatic lung cancer who have relapsed or were refractory to their last cancer therapy. Currently (2:30), IMMU is trading at $2.32 per share after a gain of 7.91% so far today.