MannKind Co. (NASDAQ:MNKD) shares dropped 5.3% during trading on Thursday . The company traded as low as $1.08 and last traded at $1.08, approximately 2,808,597 shares changed hands during trading. An increase of 9% from the average daily volume of 2,577,116 shares. The stock had previously closed at $1.14.
MNKD has been the subject of a number of recent research reports. BTIG Research set a $27.00 price objective on Invitation Homes and gave the stock a “buy” rating in a report on Tuesday, May 14th. BidaskClub raised Acceleron Pharma from a “strong sell” rating to a “sell” rating in a report on Friday, May 10th. HC Wainwright set a $31.00 target price on Kura Oncology and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $3.00.
The firm has a market capitalization of $214.07 million, a P/E ratio of -1.83 and a beta of 2.38. The firm’s fifty day moving average is $1.16.
MannKind (NASDAQ:MNKD) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $17.45 million during the quarter, compared to the consensus estimate of $18.03 million. During the same period in the prior year, the company earned ($0.25) earnings per share. As a group, analysts expect that MannKind Co. will post -0.3 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Greatmark Investment Partners Inc. bought a new position in MannKind during the first quarter valued at $25,000. Cambridge Investment Research Advisors Inc. grew its holdings in MannKind by 196.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 55,407 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 36,694 shares during the period. Janus Henderson Group PLC grew its holdings in MannKind by 91.5% during the first quarter. Janus Henderson Group PLC now owns 32,976 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 15,757 shares during the period. BNP Paribas Arbitrage SA grew its holdings in MannKind by 3,449,500.0% during the first quarter. BNP Paribas Arbitrage SA now owns 34,496 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 34,495 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new position in MannKind during the first quarter valued at $117,000. 26.96% of the stock is owned by institutional investors and hedge funds.
About MannKind (NASDAQ:MNKD)
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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