MannKind (MNKD) Rating Lowered to Hold at BidaskClub
MannKind (NASDAQ:MNKD) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of MannKind from a “strong sell” rating to a “sell” rating in a research report on Thursday. Maxim Group reissued a “buy” rating on shares of MannKind in a research note on Friday, September 1st. Zacks Investment Research raised shares of MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, HC Wainwright started coverage on shares of MannKind in a research note on Tuesday, October 10th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. MannKind currently has a consensus rating of “Hold” and a consensus price target of $0.92.
Shares of MannKind (NASDAQ MNKD) traded up $0.02 during trading hours on Friday, hitting $3.13. 2,307,056 shares of the company were exchanged, compared to its average volume of 3,311,033. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.31 and a quick ratio of 0.28. MannKind has a 12-month low of $0.67 and a 12-month high of $6.96.
In related news, Director Kent Kresa purchased 166,600 shares of MannKind stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average price of $6.00 per share, with a total value of $999,600.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in MannKind during the 3rd quarter valued at about $156,000. Wells Fargo & Company MN increased its position in MannKind by 51.5% during the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after purchasing an additional 30,589 shares during the period. Dupont Capital Management Corp purchased a new position in MannKind during the 3rd quarter valued at about $219,000. Bank of New York Mellon Corp increased its position in MannKind by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 25,125 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in MannKind during the 3rd quarter valued at about $270,000. 12.65% of the stock is currently owned by institutional investors and hedge funds.
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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