MannKind (MNKD) Downgraded to “Hold” at BidaskClub
MannKind (NASDAQ:MNKD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
A number of other brokerages also recently commented on MNKD. Zacks Investment Research upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. HC Wainwright assumed coverage on shares of MannKind in a research report on Tuesday, October 10th. They set a “buy” rating for the company. ValuEngine downgraded shares of MannKind from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, Maxim Group restated a “hold” rating on shares of MannKind in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $0.92.
Shares of MannKind (NASDAQ:MNKD) traded up $0.02 during trading on Friday, reaching $3.13. 2,307,056 shares of the company’s stock were exchanged, compared to its average volume of 3,311,033. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of -0.43. MannKind has a 52 week low of $0.67 and a 52 week high of $6.96.
MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). The firm had revenue of $2.04 million for the quarter, compared to analysts’ expectations of $2.56 million. MannKind had a negative return on equity of 24.93% and a negative net margin of 155.83%. The firm’s quarterly revenue was down 98.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. equities research analysts forecast that MannKind will post -1.13 earnings per share for the current year.
In related news, Director Kent Kresa purchased 166,600 shares of the stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $6.00 per share, with a total value of $999,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of MannKind by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 25,125 shares during the period. Wells Fargo & Company MN grew its stake in MannKind by 51.5% in the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after acquiring an additional 30,589 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in MannKind in the 3rd quarter valued at about $156,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in MannKind by 20.1% in 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 acquiring an additional 98,520 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in MannKind in the 3rd quarter valued at about $219,000. 12.65% of the stock is currently owned by institutional investors and hedge funds.
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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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