MannKind Corporation (MNKD) Upgraded to “Hold” by Zacks Investment Research

MannKind Corporation (NASDAQ:MNKD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

A number of other research analysts have also weighed in on the company. HC Wainwright assumed coverage on MannKind Corporation in a report on Tuesday. They issued a “buy” rating on the stock. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a report on Friday, September 1st. Finally, ValuEngine lowered MannKind Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. MannKind Corporation has an average rating of “Hold” and an average price target of $0.92.

MannKind Corporation (NASDAQ:MNKD) opened at 6.71 on Wednesday. The firm’s 50 day moving average price is $2.43 and its 200 day moving average price is $1.58. The firm has a market cap of $702.42 million, a price-to-earnings ratio of 5.06 and a beta of 3.16. MannKind Corporation has a 52-week low of $0.67 and a 52-week high of $6.96.

MannKind Corporation (NASDAQ:MNKD) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.10). MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.75 million. During the same quarter in the prior year, the business earned $0.08 EPS. Equities research analysts anticipate that MannKind Corporation will post ($0.94) EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of MNKD. Balyasny Asset Management LLC purchased a new stake in shares of MannKind Corporation during the second quarter valued at approximately $568,000. LMR Partners LLP purchased a new stake in shares of MannKind Corporation during the second quarter valued at approximately $352,000. KCG Holdings Inc. increased its position in shares of MannKind Corporation by 268.0% during the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 107,752 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MannKind Corporation by 20.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 98,520 shares during the last quarter. 15.67% of the stock is owned by institutional investors.

About MannKind Corporation

MannKind Corporation is a biopharmaceutical company. The Comp

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

A number of other research analysts have also weighed in on the company. HC Wainwright assumed coverage on MannKind Corporation in a report on Tuesday. They issued a “buy” rating on the stock. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a report on Friday, September 1st. Finally, ValuEngine lowered MannKind Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. MannKind Corporation has an average rating of “Hold” and an average price target of $0.92.

MannKind Corporation (NASDAQ:MNKD) opened at 6.71 on Wednesday. The firm’s 50 day moving average price is $2.43 and its 200 day moving average price is $1.58. The firm has a market cap of $702.42 million, a price-to-earnings ratio of 5.06 and a beta of 3.16. MannKind Corporation has a 52-week low of $0.67 and a 52-week high of $6.96.

MannKind Corporation (NASDAQ:MNKD) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.10). MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.75 million. During the same quarter in the prior year, the business earned $0.08 EPS. Equities research analysts anticipate that MannKind Corporation will post ($0.94) EPS for the current fiscal year.

WARNING: This piece of content was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/11/mannkind-corporation-mnkd-upgraded-to-hold-by-zacks-investment-research.html.

Several institutional investors and hedge funds have recently modified their holdings of MNKD. Balyasny Asset Management LLC purchased a new stake in shares of MannKind Corporation during the second quarter valued at approximately $568,000. LMR Partners LLP purchased a new stake in shares of MannKind Corporation during the second quarter valued at approximately $352,000. KCG Holdings Inc. increased its position in shares of MannKind Corporation by 268.0% during the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 107,752 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MannKind Corporation by 20.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 98,520 shares during the last quarter. 15.67% of the stock is owned by institutional investors.

About MannKind Corporation

MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.

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