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5 BioPharma Movers That Cannot Be Ignored

Last week, a few biotech companies made absolutely massive runs, but some had serious falls. In the past year, the health care sector was on fire from positive trials, U.S. Food and Drug Administration (FDA) approvals and mergers and acquisitions. The companies that 24/7 Wall St. has picked stood out from the rest with large swings over the course of the week. We have included information about each company, as well as recent trading activity and the consensus price target.

MannKind Corp. (NASDAQ: MNKD) stock was under pressure on Wednesday on news of a key analyst downgrade. The move may have been altered a bit due to MannKind being one of the most shorted stocks on Wall Street. What is interesting about this downgrade is that it nearly echoes some of the concerns over sluggish growth for Afrezza, MannKind’s inhalable insulin, and that patient interest remains low.

Over the week, shares fell 19%, but year to date shares are down 46.5%. MannKind shares closed out the week at $2.87, within a 52-week trading range of $2.64 to $7.88. The consensus analyst price target is $4.83.

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