MannKind Downgraded by MLV & Co to “Hold” (MNKD)
MannKind (NASDAQ:MNKD) was downgraded by stock analysts at MLV & Co
from a “buy” rating to a “hold” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $11.00 price target on the stock, up from their previous price target of $10.00. MLV & Co
‘s target price suggests a potential upside of 0.36% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on MNKD. Analysts at Brinson Patrick raised their price target on shares of MannKind from $12.00 to $15.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of MannKind in a research note on Thursday, June 12th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, May 14th. They now have a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.56.
MannKind (NASDAQ:MNKD) traded down 5.06% on Tuesday, hitting $10.405. The stock had a trading volume of 13,011,565 shares. MannKind has a 52-week low of $3.80 and a 52-week high of $11.48. The stock’s 50-day moving average is $9.2 and its 200-day moving average is $6.68. The company’s market cap is $3.932 billion.
MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. During the same quarter last year, the company posted ($0.15) earnings per share. On average, analysts predict that MannKind will post $-0.37 earnings per share for the current fiscal year.
In other MannKind news, VP Juergen Martens sold 25,417 shares of MannKind stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $10.53, for a total value of $267,641.01. The sale was disclosed in a legal filing with the SEC, which is available at this link.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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