MannKind (MNKD) Downgraded by BidaskClub

BidaskClub lowered shares of MannKind (NASDAQ:MNKD) from a buy rating to a hold rating in a report released on Saturday morning.

MNKD has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating on shares of MannKind in a report on Wednesday, November 8th. Maxim Group reiterated a hold rating on shares of MannKind in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of MannKind from a hold rating to a sell rating in a research report on Saturday, August 12th. Finally, ValuEngine cut shares of MannKind from a sell rating to a strong sell rating in a research report on Tuesday, November 14th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. MannKind presently has an average rating of Hold and an average target price of $0.92.

MannKind (MNKD) opened at $3.01 on Friday. MannKind has a 1-year low of $0.67 and a 1-year high of $6.96. 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 (NASDAQ:MNKD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.11). MannKind had a negative return on equity of 24.93% and a negative net margin of 155.83%. The firm had revenue of $2.04 million for the quarter, compared to analyst estimates of $2.56 million. During the same period in the prior year, the company posted $1.30 EPS. The firm’s quarterly revenue was down 98.7% compared to the same quarter last year. research analysts predict that MannKind will post -1.13 earnings per share for the current year.

In other MannKind news, Director Kent Kresa bought 166,600 shares of the company’s stock in a transaction on Friday, October 13th. The stock was bought at an average price of $6.00 per share, for a total transaction of $999,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new stake in shares of MannKind in the 3rd quarter valued at $270,000. Wells Fargo & Company MN increased its position in shares of MannKind 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 buying an additional 30,589 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of MannKind in the 3rd quarter valued at $156,000. Bank of New York Mellon Corp increased its position in shares of MannKind by 30.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 25,125 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of MannKind in the 3rd quarter valued at $219,000. Institutional investors and hedge funds own 12.18% of the company’s stock.

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MannKind Company Profile

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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