MannKind Corporation (MNKD) Rating Reiterated by J P Morgan Chase & Co

MannKind Corporation (NASDAQ:MNKD)‘s stock had its “underweight” rating restated by research analysts at J P Morgan Chase & Co in a research note issued to investors on Monday, May 22nd.

Several other research analysts have also commented on the company. S&P Equity Research lowered their price target on MannKind Corporation from $1.04 to $0.83 in a research report on Monday, May 8th. Piper Jaffray Companies set a $1.00 price objective on MannKind Corporation and gave the company a “sell” rating in a research note on Thursday, May 11th.

MannKind Corporation (MNKD) traded up 4.73% on Monday, reaching $1.55. The company’s stock had a trading volume of 2,518,632 shares. The stock has a 50-day moving average of $1.28 and a 200-day moving average of $1.05. MannKind Corporation has a one year low of $0.67 and a one year high of $6.50. The stock has a market cap of $156.56 million, a P/E ratio of 1.10 and a beta of 3.42.

MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.09) by $0.08. The company had revenue of $3 million during the quarter, compared to analysts’ expectations of $3.50 million. The business’s revenue was up 2900.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, analysts predict that MannKind Corporation will post ($0.87) EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of MNKD. KCG Holdings Inc. boosted its stake in MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 107,752 shares during the period. Norges Bank purchased a new stake in MannKind Corporation during the fourth quarter worth approximately $866,000. GSA Capital Partners LLP boosted its stake in MannKind Corporation by 263.7% in the fourth quarter. GSA Capital Partners LLP now owns 2,508,700 shares of the biopharmaceutical company’s stock worth $1,597,000 after buying an additional 1,818,900 shares during the period. Finally, State Street Corp boosted its stake in MannKind Corporation by 2.9% in the fourth quarter. State Street Corp now owns 5,091,948 shares of the biopharmaceutical company’s stock worth $3,242,000 after buying an additional 145,754 shares during the period. Institutional investors and hedge funds own 17.83% of the company’s stock.

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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