MannKind (NASDAQ:MNKD) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Several other research analysts also recently issued reports on MNKD. ValuEngine downgraded MannKind from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Zacks Investment Research downgraded MannKind from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. S&P Equity Research lowered their price objective on MannKind from $3.49 to $2.77 in a research note on Thursday, January 25th. Finally, Maxim Group reaffirmed a “hold” rating on shares of MannKind in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $1.59.
MannKind (MNKD) opened at $2.61 on Tuesday. The company has a debt-to-equity ratio of -0.48, a quick ratio of 0.62 and a current ratio of 0.65. The company has a market capitalization of $314.42, a PE ratio of -2.33 and a beta of 2.95. MannKind has a 52 week low of $0.67 and a 52 week high of $6.96.
In other news, VP Stuart A. Tross acquired 39,840 shares of the stock in a transaction dated Thursday, December 21st. The stock was bought at an average price of $2.52 per share, with a total value of $100,396.80. Following the completion of the purchase, the vice president now directly owns 59,840 shares of the company’s stock, valued at approximately $150,796.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in MannKind in the third quarter valued at approximately $156,000. Wells Fargo & Company MN boosted its holdings in MannKind by 51.5% in the third 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. Dupont Capital Management Corp bought a new stake in MannKind in the third quarter valued at approximately $219,000. Bank of New York Mellon Corp boosted its holdings in MannKind by 30.2% in the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 25,125 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in MannKind in the third quarter valued at approximately $270,000. 19.62% of the stock is owned by institutional investors.
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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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