Jefferies Group Initiates Coverage on MannKind (MNKD)
Jefferies Group began coverage on shares of MannKind (NASDAQ:MNKD) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
A number of other analysts have also recently weighed in on MNKD. Analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, August 13th. They now have a $7.75 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of MannKind from $16.00 to $13.00 in a research note on Tuesday, August 12th. They now have an “outperform” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.28.
MannKind (NASDAQ:MNKD) opened at 7.34 on Wednesday. MannKind has a 52 week low of $3.80 and a 52 week high of $11.48. The stock has a 50-day moving average of $8.50 and a 200-day moving average of $7.60. The company’s market cap is $2.826 billion. MannKind also saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 77,343,842 shares, a growth of 6.6% from the July 31st total of 72,584,807 shares. Approximately 31.0% of the shares of the company are short sold. Based on an average trading volume of 17,109,430 shares, the short-interest ratio is presently 4.5 days.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.07. During the same quarter last year, the company posted ($0.16) earnings per share. Analysts expect that MannKind will post $-0.38 EPS for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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