Zacks Reiterates “Neutral” Rating for MannKind Corp. (MNKD)
MannKind Corp. (NASDAQ:MNKD)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday, Analyst Ratings.Net reports. They currently have a $6.25 price target on the stock. Zacks‘ price target suggests a potential upside of 12.01% from the stock’s previous close.
Zacks‘ analyst wrote, “MannKind’s fourth quarter 2013 net loss of $0.16 per share was narrower than the year-ago loss of $0.23 but wider than the Zacks Consensus Estimate of a loss of $0.14. We expect investor focus to remain on MannKind’s lead candidate Afrezza. A final decision from the U.S. regulatory body is expected by Apr 15, 2014. Meanwhile, we remain concerned about the company’s over dependence on Afrezza. MannKind has already received two complete response letters for Afrezza from the FDA. Further delay in approval or another setback related to this diabetes candidate will be catastrophic for the company. We see limited upside from current levels and retain our Neutral stance on the stock.”
MannKind Corp. (NASDAQ:MNKD) traded up 1.37% during mid-day trading on Thursday, hitting $5.991. The stock had a trading volume of 4,675,918 shares. MannKind Corp. has a 52-week low of $2.46 and a 52-week high of $8.70. The stock has a 50-day moving average of $5.61 and a 200-day moving average of $5.55. The company’s market cap is $1.803 billion.
MannKind Corp. (NASDAQ:MNKD) last released its earnings data on Tuesday, February 18th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.02. Analysts expect that MannKind Corp. will post $-0.26 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MNKD. Analysts at MLV Capital reiterated a “buy” rating on shares of MannKind Corp. in a research note on Thursday. They now have a $9.00 price target on the stock, down previously from $10.00. Analysts at Piper Jaffray initiated coverage on shares of MannKind Corp. in a research note on Tuesday, November 26th. They set a “neutral” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. MannKind Corp. presently has a consensus rating of “Hold” and a consensus target price of $6.31.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.