MannKind Corporation (MNKD) Given Consensus Recommendation of “Hold” by Brokerages
Shares of MannKind Corporation (NASDAQ:MNKD) have been given a consensus recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $0.92.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised MannKind Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. HC Wainwright assumed coverage on MannKind Corporation in a report on Tuesday, October 10th. They issued a “buy” rating for the company. ValuEngine cut MannKind Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Maxim Group reaffirmed a “hold” rating on shares of MannKind Corporation in a report on Wednesday.
Shares of MannKind Corporation (NASDAQ MNKD) opened at $3.26 on Friday. The stock has a market cap of $371.04 million, a PE ratio of 5.98 and a beta of 3.10. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of -0.48.
MannKind Corporation (NASDAQ:MNKD) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The business had revenue of $2.16 million during the quarter, compared to analyst estimates of $2.75 million. MannKind Corporation had a negative return on equity of 24.93% and a net margin of 71.60%. During the same period in the previous year, the company posted $0.08 EPS. analysts predict that MannKind Corporation will post -1.02 EPS for the current year.
In other news, Director Kent Kresa acquired 166,600 shares of the business’s stock in a transaction on Friday, October 13th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $999,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of MNKD. KCG Holdings Inc. increased its stake in MannKind Corporation by 268.0% during the 1st 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. Dupont Capital Management Corp purchased a new stake in MannKind Corporation during the 3rd quarter worth approximately $219,000. LMR Partners LLP purchased a new stake in MannKind Corporation during the 2nd quarter worth approximately $352,000. Balyasny Asset Management LLC purchased a new stake in MannKind Corporation during the 2nd quarter worth approximately $568,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in MannKind Corporation by 20.1% during the 2nd 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. Institutional investors own 14.59% of the company’s stock.
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About MannKind Corporation
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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