MannKind: What Started As A Drip Is Now A Gusher With The Clock Ticking!
Prescription Data Continues to Deteriorate :
With the latest weekly data for MannKind's (NASDAQ: MNKD ) Afrezza, prescriptions have fallen from the all-time high (421) to the current (118). This represents a decline of 72%, due to the few physicians who had opted to write prescriptions for Afrezza, now opting to place their patients on new therapies or return to their former method of treatment. This declining trend also applies to the few patients who opt for refilling their Afrezza prescriptions. At the end of 2015 there were approximately 12,500 new prescriptions written for Afrezza.
For simplification I will round this number down to 12,000 where I will use the most lenient 90-day (12 week) supply for users needing refills. The 12,000 users would need to seek on average 1,000 each week for Afrezza refills being on target with expected fulfillment. If the last two weeks of data are reflective of the trend going forward, we see the weekly average down to 174 refills. This simple implies that about 85% of those who had opted for using Afrezza have dropped their use of the drug for treating their medical condition. There has been no disruption in the availability of Afrezza for new or refill prescriptions. This confirms that even those few who had opted for using it, now they are moving to other options. With the current trend line, when MannKind relaunches Afrezza in the 3rd Quarter of 2016, they will be doing so with a minuscule level of former users.
Stanley Black & Decker, Inc. (SWK) Director Michael David Hankin Acquires 450 Shares
Stanley Black & Decker, Inc. (NYSE:SWK) Director Michael David Hankin bought 450 shares of Stanley Black & Decker stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $112.18 per share, with a total value of $50,481.00. Following the purchase, the director now owns 450 shares of the company’s stock, valued at approximately $50,481. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink .
Several research firms recently weighed in on SWK. Zacks Investment Research cut shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Imperial Capital boosted their price target on shares of Stanley Black & Decker from $103.00 to $107.00 and gave the stock an “in-line” rating in a research report on Friday, April 22nd. JPMorgan Chase & Co. boosted their price target on shares of Stanley Black & Decker from $103.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, April 25th. Susquehanna boosted their price target on shares of Stanley Black & Decker from $110.00 to $126.00 and gave the stock a “positive” rating in a research report on Thursday, April 14th. Finally, Longbow Research reissued a “buy” rating and set a $115.00 price target on shares of Stanley Black & Decker in a research report on Thursday, April 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $110.31.