MannKind (MNKD) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of MannKind (NASDAQ:MNKD) from a sell rating to a hold rating in a research note published on Saturday.

Several other research firms have also recently weighed in on MNKD. HC Wainwright set a $4.00 price objective on MannKind and gave the stock a buy rating in a research report on Wednesday, September 5th. Zacks Investment Research cut MannKind from a buy rating to a hold rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $2.51.

MNKD stock opened at $1.85 on Friday. The stock has a market cap of $279.97 million, a PE ratio of -1.59 and a beta of 2.13. MannKind has a fifty-two week low of $0.98 and a fifty-two week high of $4.05.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $4.47 million for the quarter, compared to analyst estimates of $5.28 million. Research analysts anticipate that MannKind will post -0.76 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in MannKind by 25.4% during the third quarter. Wells Fargo & Company MN now owns 237,296 shares of the biopharmaceutical company’s stock worth $434,000 after acquiring an additional 48,126 shares in the last quarter. Northern Trust Corp raised its holdings in MannKind by 604.1% during the second quarter. Northern Trust Corp now owns 1,540,825 shares of the biopharmaceutical company’s stock worth $2,927,000 after acquiring an additional 1,321,977 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $738,000 after acquiring an additional 307,475 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in MannKind during the second quarter worth about $177,000. Finally, Scopia Capital Management LP raised its holdings 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 worth $3,166,000 after acquiring an additional 537,045 shares in the last quarter. Institutional investors and hedge funds own 25.47% 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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