Maxim Group reaffirmed their hold rating on shares of MannKind Corporation (NASDAQ:MNKD) in a research report sent to investors on Wednesday, November 1st, MarketBeat reports.
“MannKind raised (net $57.7M) in an equity offering recently. We had anticipated a larger offering that would provide a longer capital runway to get the Afrezza launch off the ground; one that would provide adequate support to launch a new product in a mature market.”,” Maxim Group’s analyst wrote.
A number of other brokerages also recently commented on MNKD. Zacks Investment Research raised shares of MannKind Corporation from a sell rating to a hold rating in a research note on Wednesday, October 11th. HC Wainwright assumed coverage on shares of MannKind Corporation in a report on Tuesday, October 10th. They set a buy rating for the company. Finally, ValuEngine lowered shares of MannKind Corporation from a hold rating to a sell rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $0.92.
MannKind Corporation (MNKD) opened at $3.24 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of -0.43. MannKind Corporation has a one year low of $0.67 and a one year high of $6.96.
MannKind Corporation (NASDAQ:MNKD) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). MannKind Corporation had a negative net margin of 155.83% and a negative return on equity of 24.93%. The business had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $2.56 million. During the same period in the prior year, the business posted $1.30 EPS. The business’s revenue was down 98.7% on a year-over-year basis. research analysts forecast that MannKind Corporation will post -1.13 earnings per share for the current year.
In other MannKind Corporation news, Director Kent Kresa purchased 166,600 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was acquired at an average cost of $6.00 per share, with a total value of $999,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
A number of large investors have recently modified their holdings of MNKD. Macquarie Group Ltd. bought a new stake in MannKind Corporation in the 3rd quarter valued at about $156,000. Wells Fargo & Company MN lifted its position in MannKind Corporation by 51.5% in the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after purchasing an additional 30,589 shares during the last quarter. Dupont Capital Management Corp bought a new stake in MannKind Corporation in the 3rd quarter valued at about $219,000. KCG Holdings Inc. lifted its position in MannKind Corporation by 268.0% in the 1st quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 107,752 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of MannKind Corporation by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 25,125 shares in the last quarter. Hedge funds and other institutional investors own 13.96% of the company’s stock.
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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