MannKind Co. (NASDAQ:MNKD) gapped up before the market opened on Tuesday . The stock had previously closed at $2.52, but opened at $2.61. MannKind shares last traded at $2.68, with a volume of 2215551 shares changing hands.
Several research firms have recently commented on MNKD. BidaskClub upgraded MannKind from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. S&P Equity Research decreased their price objective on MannKind from $3.49 to $2.77 in a report on Thursday, January 25th. ValuEngine downgraded MannKind from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded MannKind from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Maxim Group restated a “hold” rating on shares of MannKind in a report on Tuesday, January 30th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Sell” and a consensus price target of $1.59.
The stock has a market cap of $322.85, a price-to-earnings ratio of -2.39 and a beta of 2.95. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of -0.48.
MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. MannKind had a negative return on equity of 24.93% and a negative net margin of 999.00%. The business had revenue of $4.53 million during the quarter, compared to the consensus estimate of $3.22 million. equities analysts predict that MannKind Co. will post -0.85 earnings per share for the current year.
In related news, VP Stuart A. Tross purchased 39,840 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was 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 owns 59,840 shares of the company’s stock, valued at approximately $150,796.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in MannKind during the third quarter worth $156,000. Wells Fargo & Company MN grew its holdings in 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 buying an additional 30,589 shares in the last quarter. Dupont Capital Management Corp bought a new stake in MannKind during the third quarter worth $219,000. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 25,125 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in MannKind in the third quarter worth $270,000. Institutional investors and hedge funds own 19.62% 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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