NEW YORK, NY / ACCESSWIRE / August 17, 2017 / Biogen saw its market cap increase over $1 billion in Wednesday trading after Goldman Sachs took a big bet on the company by adding it to its "conviction buy" list. The firm is betting huge on Biogen's experimental Alzheimer's Disease drug aducanumab. Shares of MannKind also saw gains despite any news and a miss on its earnings that it reported earlier this month.

RDI Initiates Coverage on:

Biogen Inc.
https://ub.rdinvesting.com/news/?ticker=BIIB

MannKind Corporation
https://ub.rdinvesting.com/news/?ticker=MNKD

Biogen Inc.'s shares closed up 2.14% on Wednesday on nearly 1.7 million shares traded. Though the gains were modest, it was a big day for the biotech company with a gain of over $1 billion to its market cap. Goldman Sachs analysts are betting big on Biogen's Alzheimer's drug aducanumab. The firm added Biogen to its Americas Conviction List and issued their highest rating on the stock - a "conviction buy." According to the firm, aducanumab "could be one of the first disease-modifying drugs to reach the market." The firm even believes that if it wins regulatory clearance, sales could peak at $12 billion. "We continue to see optionality on lead pipeline Alzheimer's drug, aducanumab, which, based on our expectation for (late-stage) data in (late 2019 or early 2020), could be one of the first disease-modifying drugs to reach the market," the analysts wrote. According to independent analyses, global cost of dementia will exceed the U.S. $1.1 trillion by 2018. Alzheimer is the most common type of dementia.

Access RDI's Biogen Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=BIIB

MannKind Corporation's shares closed up 12.60% yesterday. There was no significant news yesterday but earlier in the month the biopharma company released its second quarter results. For the period, the company reported a loss of 35 cents per share. This was a wider loss than the 25 cents that analysts had expected. It was also worse than the loss of 33 cents reported last year. Revenue at $2.16 million was also below the $2.75 million that was expected. Despite the missed earnings, investors may be more optimistic about the company's inhale rapid-acting mealtime insulin, Afrezza. Sales for the drug have been increasing and it made up $1.5 million of the company's revenue for the quarter. Earlier this month, the company and One Drop announced the first step in a collaboration of launching the A-ONE study, which is a randomized controlled trial investigating the use of Afrezza, and One Drop's integrated digital diabetes care platform.

Access RDI's MannKind Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=MNKD

Our Actionable Research on Biogen Inc. (NASDAQ: BIIB) and MannKind Corporation (NASDAQ: MNKD) can be downloaded free of charge at Research Driven Investing.

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