MannKind Co. (NASDAQ:MNKD) has been given a consensus rating of “Hold” by the eight analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $1.89.
Several brokerages have recently commented on MNKD. BidaskClub upgraded MannKind from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Maxim Group restated a “hold” rating on shares of MannKind in a report on Tuesday, January 30th. S&P Equity Research decreased their target price on MannKind from $3.49 to $2.77 in a report on Thursday, January 25th. Zacks Investment Research upgraded MannKind from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, ValuEngine upgraded MannKind from a “strong sell” rating to a “sell” rating in a report on Thursday, November 30th.
Shares of MannKind (NASDAQ:MNKD) traded up $0.06 during mid-day trading on Monday, hitting $2.99. The stock had a trading volume of 3,340,465 shares, compared to its average volume of 6,953,985. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of -0.43. The company has a market capitalization of $348.29, a PE ratio of -11.07 and a beta of 3.18. MannKind has a 12 month low of $0.67 and a 12 month high of $6.96.
In other news, VP Stuart A. Tross purchased 39,840 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were acquired at an average price of $2.52 per share, for a total transaction of $100,396.80. Following the completion of the acquisition, the vice president now directly owns 59,840 shares in the company, valued at $150,796.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. bought a new position in MannKind in the third quarter valued at about $156,000. Wells Fargo & Company MN boosted its holdings in MannKind by 51.5% in the third 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 during the last quarter. Dupont Capital Management Corp bought a new position in MannKind in the third quarter valued at about $219,000. Bank of New York Mellon Corp boosted its holdings in MannKind by 30.2% in the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 25,125 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in MannKind in the third quarter valued at about $270,000. Institutional investors and hedge funds own 12.33% of the company’s stock.
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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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