Monday, March 7, 2011

Stock Watch: MNKD Gets Dissed

From VFC's News, Notes & Weekly Stock Watch at VFC's NEW Stock House.

Mannkind shares have been hammered lately, following the FDA's denial of the insulin spray Afrezza and a conference call that painted a dire short term picture for the company, but it looks like the cheap shots are back, as should be expected from anything involving TheStreet.com's biotech blogger, Adam Feuerstein.

It wasn't Feuerstein this time that fired the pot shot, however, it was a post on the Seeking Alpha website that essentially offered nothing more than a re-post of a previously-announced Feuerstein opinion.

It's one thing to agree or disagree, but to devote an entire post to someone else's opinion has investors of MNKD wondering whether the effort to bash the stock is being stepped up a bit, and if that's the case, then why?

I'm always a fan of taking a chance on a stock that's been beaten down - and that strategy has worked out very well with DNDN, SIRI, CSUH and TTNP over the years (to name a few) - and MNKD may be fitting that profile right now.

Should it look like Afrezza stands a shot at approval as time goes on - and it should, in my opinion, as the the FDA only wanted confidence in the next-generation inhaler - then this stock will be trading for significantly higher than it is right now, barring any other setbacks or bad news.

Cheap shot disses are always expected from ever professional (not) TheStreet.com, but now it looks like we've got parrots out there echoing those disses.

When you see stuff like that, you've got to wonder - what's that all about?

Disclosure:  Long MNKD call options.

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