MannKind Corporation (MNKD) Downgraded by ValuEngine
ValuEngine cut shares of MannKind Corporation (NASDAQ:MNKD) from a sell rating to a strong sell rating in a research note published on Tuesday morning.
MNKD has been the topic of a number of other reports. HC Wainwright reissued a buy rating on shares of MannKind Corporation in a report on Wednesday, November 8th. Maxim Group reissued a hold rating on shares of MannKind Corporation in a report on Wednesday, November 1st. Finally, Zacks Investment Research cut MannKind Corporation from a hold rating to a sell rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. MannKind Corporation presently has a consensus rating of Hold and a consensus target price of $0.92.
MannKind Corporation (NASDAQ MNKD) traded down $0.04 during mid-day trading on Tuesday, hitting $3.20. The stock had a trading volume of 3,355,700 shares, compared to its average volume of 4,108,530. MannKind Corporation has a 12-month low of $0.67 and a 12-month high of $6.96. The company has a debt-to-equity ratio of -0.43, a quick ratio of 0.28 and a current ratio of 0.31.
MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). MannKind Corporation had a negative net margin of 155.83% and a negative return on equity of 24.93%. The company had revenue of $2.04 million for the quarter, compared to analysts’ expectations of $2.56 million. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 98.7% on a year-over-year basis. equities analysts forecast that MannKind Corporation will post -1.13 earnings per share for the current fiscal year.
In other news, Director Kent Kresa acquired 166,600 shares of MannKind Corporation stock in a transaction on Friday, October 13th. The shares were acquired at an average price of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of MannKind Corporation by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 25,125 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of MannKind Corporation by 51.5% during the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after purchasing an additional 30,589 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of MannKind Corporation during the 3rd quarter valued at approximately $156,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MannKind Corporation by 20.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 98,520 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of MannKind Corporation during the 3rd quarter valued at approximately $219,000. 13.96% of the stock is currently owned by institutional investors and hedge funds.
About MannKind Corporation
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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