Shares of MannKind Corporation (NASDAQ:MNKD) have received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $0.92.
Several analysts recently weighed in on the company. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. Zacks Investment Research upgraded MannKind Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. ValuEngine downgraded MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, HC Wainwright assumed coverage on MannKind Corporation in a research note on Tuesday, October 10th. They issued a “buy” rating on the stock.
In related news, Director Kent Kresa bought 166,600 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average cost of $6.00 per share, with a total value of $999,600.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Balyasny Asset Management LLC bought a new stake in MannKind Corporation during the second quarter valued at about $568,000. LMR Partners LLP bought a new stake in MannKind Corporation during the second quarter valued at about $352,000. Harel Insurance Investments & Financial Services Ltd. raised 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 acquiring an additional 98,520 shares during the period. Finally, KCG Holdings Inc. raised its holdings in MannKind Corporation by 268.0% during the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 107,752 shares during the period. 15.67% of the stock is currently owned by institutional investors and hedge funds.
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Shares of MannKind Corporation (NASDAQ MNKD) traded down 12.36% during midday trading on Tuesday, reaching $4.75. The company’s stock had a trading volume of 12,768,052 shares. MannKind Corporation has a 52-week low of $0.67 and a 52-week high of $6.96. The stock has a market cap of $497.24 million, a price-to-earnings ratio of 3.58 and a beta of 3.16. The stock has a 50-day moving average price of $2.80 and a 200-day moving average price of $1.67.
MannKind Corporation (NASDAQ:MNKD) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the 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 firm 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 company posted $0.08 EPS. Equities research analysts anticipate that MannKind Corporation will post ($0.89) earnings per share for the current fiscal year.
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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