Shares of MannKind Corporation (NASDAQ:MNKD) have been given an average rating of “Hold” by the seven analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $0.92.
Several brokerages have recently commented on MNKD. Zacks Investment Research raised MannKind Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered MannKind Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Maxim Group reissued a “buy” rating on shares of MannKind Corporation in a report on Friday, September 1st. Finally, HC Wainwright began coverage on MannKind Corporation in a report on Tuesday. They set a “buy” rating for the company.
Shares of MannKind Corporation (NASDAQ MNKD) traded down 2.19% during midday trading on Tuesday, reaching $5.35. 3,567,430 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $2.66 and a 200 day moving average price of $1.64. MannKind Corporation has a 12 month low of $0.67 and a 12 month high of $6.96. The company has a market cap of $560.05 million, a P/E ratio of 4.03 and a beta of 3.16.
MannKind Corporation (NASDAQ:MNKD) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.10). The company had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.75 million. MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. During the same period in the previous year, the firm earned $0.08 EPS. Equities research analysts forecast that MannKind Corporation will post ($0.95) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of MannKind Corporation by 20.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 98,520 shares in the last quarter. KCG Holdings Inc. grew its holdings in shares of MannKind Corporation by 268.0% during the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 107,752 shares in the last quarter. LMR Partners LLP purchased a new position in shares of MannKind Corporation during the second quarter worth about $352,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of MannKind Corporation during the second quarter worth about $568,000. 15.67% of the stock is owned by institutional investors.
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MannKind Corporation Company Profile
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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