MannKind (NASDAQ:MNKD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

MNKD has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating on shares of MannKind in a report on Wednesday, November 8th. Maxim Group reissued a “hold” rating on shares of MannKind in a report on Wednesday, November 1st. ValuEngine downgraded MannKind from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Finally, BidaskClub downgraded MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $0.92.

Shares of MannKind (MNKD) traded down $0.16 during midday trading on Wednesday, hitting $2.81. The company had a trading volume of 6,110,582 shares, compared to its average volume of 2,465,221. 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 52-week low of $0.67 and a 52-week high of $6.96.

MannKind (NASDAQ:MNKD) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). MannKind had a negative net margin of 155.83% and a negative return on equity of 24.93%. The business had revenue of $2.04 million during the quarter, compared to analyst estimates of $2.56 million. During the same period last year, the business posted $1.30 EPS. MannKind’s revenue was down 98.7% compared to the same quarter last year. sell-side analysts predict that MannKind will post -1.13 earnings per share for the current fiscal year.

In other news, Director Kent Kresa purchased 166,600 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was acquired at an average price of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC acquired a new position in shares of MannKind during the 2nd quarter worth $568,000. LMR Partners LLP acquired a new position in shares of MannKind during the 2nd quarter worth $352,000. Dupont Capital Management Corp acquired a new position in shares of MannKind during the 3rd quarter worth $219,000. Dimensional Fund Advisors LP acquired a new position in shares of MannKind during the 3rd quarter worth $270,000. Finally, Macquarie Group Ltd. acquired a new position in shares of MannKind during the 3rd quarter worth $156,000. 12.18% of the stock is owned by institutional investors and hedge funds.

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MannKind 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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