Zacks Investment Research upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $2.00 price target on the biopharmaceutical company’s stock.
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. “
Other research analysts have also recently issued research reports about the stock. Maxim Group cut shares of MannKind from a hold rating to a sell rating and set a $1.00 price objective for the company. in a report on Wednesday, February 28th. S&P Equity Research cut their price objective on shares of MannKind from $3.49 to $2.77 in a report on Thursday, January 25th. BidaskClub cut shares of MannKind from a sell rating to a strong sell rating in a report on Wednesday, April 4th. ValuEngine raised shares of MannKind from a strong sell rating to a sell rating in a report on Wednesday, May 2nd. Finally, HC Wainwright set a $5.00 price objective on shares of MannKind and gave the company a buy rating in a report on Thursday, May 10th. Four equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $2.69.
MannKind opened at $2.00 on Wednesday, according to Marketbeat. MannKind has a fifty-two week low of $1.09 and a fifty-two week high of $6.96. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.43 and a quick ratio of 0.39. The firm has a market capitalization of $278.65 million, a price-to-earnings ratio of -1.72 and a beta of 2.92.
MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $3.47 million for the quarter, compared to the consensus estimate of $3.53 million. During the same period last year, the firm earned ($0.17) earnings per share. equities analysts anticipate that MannKind will post -0.83 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in MNKD. Wells Fargo & Company MN increased its stake in shares of MannKind by 51.5% during the third quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 30,589 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MannKind by 30.2% during the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 25,125 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of MannKind during the third quarter worth about $270,000. Element Capital Management LLC purchased a new stake in shares of MannKind during the first quarter worth about $287,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of MannKind during the fourth quarter worth about $306,000. 17.87% of the stock is owned by institutional investors and hedge funds.
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
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