Zacks Investment Research upgraded shares of MannKind Corporation (NASDAQ:MNKD) from a sell rating to a hold rating in a report released on Wednesday morning.
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. “
Several other brokerages have also recently commented on MNKD. HC Wainwright began coverage on shares of MannKind Corporation in a research report on Tuesday. They set a buy rating for the company. Maxim Group reiterated a buy rating on shares of MannKind Corporation in a research report on Friday, September 1st. Finally, ValuEngine cut shares of MannKind Corporation from a buy rating to a hold rating in a research report on Tuesday, August 1st. Two research 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 a consensus price target of $0.92.
MannKind Corporation (MNKD) remained flat at $5.47 on Wednesday. 20,776,166 shares of the company traded hands. The stock has a 50-day moving average price of $2.54 and a 200-day moving average price of $1.61. The firm has a market cap of $572.61 million, a PE ratio of 4.12 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 announced 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 negative return on equity of 24.93% and a net margin of 71.60%. The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.75 million. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that MannKind Corporation will post ($0.95) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of MNKD. KCG Holdings Inc. grew its position in shares of MannKind Corporation by 268.0% during the 1st quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 107,752 shares during the period. LMR Partners LLP acquired a new position in MannKind Corporation during the second quarter valued at approximately $352,000. Balyasny Asset Management LLC acquired a new position in MannKind Corporation during the second quarter valued at approximately $568,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in 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 purchasing an additional 98,520 shares during the period. Institutional investors own 15.67% of the company’s stock.
MannKind Corporation 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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