BidaskClub upgraded shares of MannKind (NASDAQ:MNKD) from a strong sell rating to a sell rating in a report issued on Wednesday.
Several other analysts have also recently issued reports on MNKD. Zacks Investment Research cut MannKind from a buy rating to a hold rating in a research note on Wednesday, July 11th. HC Wainwright set a $4.00 price objective on MannKind and gave the company a buy rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $2.51.
MNKD traded down $0.06 on Wednesday, reaching $1.99. The company’s stock had a trading volume of 3,303,480 shares, compared to its average volume of 3,145,904. The company has a market capitalization of $313.63 million, a P/E ratio of -1.72 and a beta of 2.27. MannKind has a 1 year low of $0.98 and a 1 year high of $4.45. The company has a debt-to-equity ratio of -0.44, a quick ratio of 0.43 and a current ratio of 0.48.
MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $3.89 million during the quarter, compared to analysts’ expectations of $4.80 million. As a group, equities research analysts forecast that MannKind will post -0.76 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp raised its stake in MannKind by 604.1% during the second quarter. Northern Trust Corp now owns 1,540,825 shares of the biopharmaceutical company’s stock valued at $2,927,000 after buying an additional 1,321,977 shares in the last quarter. Bank of New York Mellon Corp raised its stake in MannKind by 380.1% during the second quarter. Bank of New York Mellon Corp now owns 388,375 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 307,475 shares in the last quarter. Marathon Trading Investment Management LLC acquired a new stake in MannKind during the second quarter valued at approximately $177,000. Scopia Capital Management LP raised its stake in MannKind by 47.5% during the second quarter. Scopia Capital Management LP now owns 1,666,498 shares of the biopharmaceutical company’s stock valued at $3,166,000 after buying an additional 537,045 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in MannKind during the second quarter valued at approximately $141,000. Hedge funds and other institutional investors own 25.44% of the company’s stock.
MannKind Company Profile
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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