Zacks Investment Research upgraded shares of MannKind (NASDAQ:MNKD) from a sell rating to a hold rating in a research report released on Wednesday, January 10th.
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 brokerages have also recently issued reports on MNKD. HC Wainwright began coverage on shares of MannKind in a research report on Tuesday, October 10th. They set a buy rating for the company. ValuEngine cut shares of MannKind from a hold rating to a sell rating in a research report on Wednesday, October 18th. Maxim Group reiterated a hold rating on shares of MannKind in a research report on Wednesday, November 1st. Finally, BidaskClub cut shares of MannKind from a buy rating to a hold rating in a research report on Saturday, December 2nd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $0.92.
MannKind (NASDAQ MNKD) opened at $2.47 on Wednesday. The company has a market cap of $283.74, a PE ratio of -9.15 and a beta of 3.08. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43. MannKind has a 1-year low of $0.67 and a 1-year high of $6.96.
MannKind (NASDAQ:MNKD) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The firm had revenue of $2.04 million for the quarter, compared to analyst estimates of $2.56 million. MannKind had a negative return on equity of 24.93% and a negative net margin of 155.83%. The company’s revenue for the quarter was down 98.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. research analysts anticipate that MannKind will post -1.13 earnings per share for the current fiscal year.
In related news, VP Stuart A. Tross acquired 39,840 shares of the stock in a transaction on Thursday, December 21st. The stock was purchased at an average price of $2.52 per share, for a total transaction of $100,396.80. Following the transaction, the vice president now owns 59,840 shares of the company’s stock, valued at approximately $150,796.80. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MNKD. Balyasny Asset Management LLC acquired a new stake in MannKind in the 2nd quarter valued at about $568,000. Dimensional Fund Advisors LP acquired a new stake in MannKind in the 3rd quarter valued at about $270,000. Dupont Capital Management Corp acquired a new stake in MannKind in the 3rd quarter valued at about $219,000. Macquarie Group Ltd. acquired a new stake in MannKind in the 3rd quarter valued at about $156,000. Finally, Wells Fargo & Company MN increased its position in 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 acquiring an additional 30,589 shares in the last quarter. Hedge funds and other institutional investors own 12.10% of the company’s stock.
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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