MannKind Corporation (NASDAQ:MNKD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

Several other brokerages have also commented on MNKD. ValuEngine lowered shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co reaffirmed a “sell” rating on shares of MannKind Corporation in a research report on Thursday, May 11th. Piper Jaffray Companies set a $1.00 price objective on shares of MannKind Corporation and gave the company a “sell” rating in a research report on Thursday, May 11th. Finally, S&P Equity Research decreased their price objective on shares of MannKind Corporation from $1.04 to $0.83 in a research report on Monday, May 8th.

Shares of MannKind Corporation (NASDAQ:MNKD) traded up 2.59% during midday trading on Friday, hitting $1.19. 1,671,423 shares of the stock were exchanged. MannKind Corporation has a 12 month low of $0.41 and a 12 month high of $2.38. The stock has a market cap of $124.57 million, a P/E ratio of 0.90 and a beta of 3.30. The firm has a 50 day moving average of $1.29 and a 200-day moving average of $1.23.

MannKind Corporation (NASDAQ:MNKD) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The company had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.75 million. MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. During the same period in the previous year, the business earned $0.08 earnings per share. Equities research analysts anticipate that MannKind Corporation will post ($1.09) EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its position in MannKind Corporation by 20.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 98,520 shares in the last quarter. KCG Holdings Inc. raised its position in MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 107,752 shares in the last quarter. State Street Corp raised its position in MannKind Corporation by 2.9% in the fourth quarter. State Street Corp now owns 5,091,948 shares of the biopharmaceutical company’s stock worth $3,242,000 after buying an additional 145,754 shares in the last quarter. LMR Partners LLP acquired a new position in MannKind Corporation during the second quarter worth about $352,000. Finally, Norges Bank acquired a new position in MannKind Corporation during the fourth quarter worth about $866,000. 17.69% of the stock is owned by institutional investors.

MannKind Corporation Company Profile

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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