Nektar Therapeutics (NKTR), Pfizer Inc. (PFE): What’s MannKind Corporation (MNKD) Really Worth?

This view, though, focuses more on Afrezza’s attraction as an inhaled insulin versus an injected insulin and doesn’t really address what many would say is Afrezza’s greatest strength: how well it works. Afrezza acts rapidly and mimics the normal functioning of a healthy pancreas relatively closely.

On the bullish side, investment firm Piper Jaffray thinks that Afrezza could hit peak annual sales of more than $2 billion, assuming approval in the U.S. and Europe. If this estimate is in the ballpark, MannKind could be worth a lot more than $2.2 billion in the future.

Best guess
To me, the safest answer for this quiz is “none of the above.” I’m not sold on the idea that a survey of 75 doctors accurately represents the opinions of the the entire medical community. MannKind Corporation (NASDAQ:MNKD) must get a partner to help commercialize Afrezza. If it gets a good one with a solid sales team in place for the diabetes market, my hunch is that doctors can be swayed to try Afrezza. I suspect that patients will like it if the doctors prescribe it. In this scenario, that $3.3 billion market cap from the most optimistic analyst will likely be blown away.

However, the key word in the above paragraph is “if.” If MannKind doesn’t land a partner with a sales team that can effectively educate physicians and if that physician survey was on target, I wouldn’t be surprised to see the market cap drop even lower than $1.4 billion.

I think that MannKind Corporation (NASDAQ:MNKD) will secure a solid partner, but none of us can be absolutely sure. I’m definitely not a bear on MannKind, because my view is that Afrezza holds tremendous potential. On the other hand, I’m not quite as gung ho as many of the company’s most ardent supporters. Call me cautiously optimistic. My caution has overridden my optimism for now, though: I don’t currently own any MannKind stock.

What do you think? Leave your thoughts in the comments section below. Anyone who makes a solid case for their answer, regardless of what it is, automatically gets an “A” on the quiz.

The article What’s MannKind Really Worth? originally appeared on Fool.com and is written by Keith Speights.

Fool contributor Keith Speights has no position in any stocks mentioned, and neither does The Motley Fool.

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