MannKind Given Neutral Rating at Zacks (MNKD)
MannKind (NASDAQ:MNKD)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Wednesday. They currently have a $7.75 price objective on the stock. Zacks‘s target price suggests a potential upside of 3.61% from the company’s current price.
Zacks’ analyst wrote, “MannKind’s second quarter 2014 net loss of $0.19 per share was wider than the year-ago loss of $0.16 and the Zacks Consensus Estimate of a loss of $0.11 We believe that the numbers put out by MannKind in the second quarter of 2014 are not as significant as the deal with Sanofi on Afrezza. We are positive on MannKind’s decision to choose a large company like Sanofi as a partner for Afrezza. Sanofi’s marketing muscle should go a long way in making the U.S. launch (expected in the first quarter of 2015) of Afrezza a success. The deal will result in a substantial inflow of cash at MannKind. We remain Neutral on the stock.”
A number of other analysts have also recently weighed in on MNKD. Analysts at RBC Capital cut their price target on shares of MannKind from $16.00 to $13.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at ISI Group downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Tuesday, July 1st. They now have a $11.00 price target on the stock, up previously from $10.00. Finally, analysts at MLV & Co
downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Tuesday, July 1st. They now have a $11.00 price target on the stock, up previously from $10.00. They noted that the move was a valuation call. One 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 company presently has an average rating of “Hold” and an average target price of $9.28.
In other MannKind news, VP David Thomson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $8.16, for a total value of $244,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of MannKind (NASDAQ:MNKD) traded down 0.13% during mid-day trading on Wednesday, hitting $7.47. 11,321,368 shares of the company’s stock traded hands. MannKind has a one year low of $3.80 and a one year high of $11.48. The stock has a 50-day moving average of $9.34 and a 200-day moving average of $7.46. The company’s market cap is $2.823 billion. MannKind also was the recipient of unusually large options trading activity on Monday. Stock traders acquired 62,634 call options on the stock. This represents an increase of approximately 334% compared to the typical daily volume of 14,416 call options.
MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.07. During the same quarter in the prior year, the company posted ($0.16) earnings per share. On average, analysts predict that MannKind will post $-0.37 earnings per share for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
To view Zacks’ full report, visit Zacks’ official website.
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.