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 report released on Saturday.

Several other analysts have also commented on the stock. ValuEngine raised shares of MannKind from a “strong sell” rating to a “sell” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a research report on Wednesday, November 8th. Maxim Group reaffirmed a “hold” rating on shares of MannKind in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of MannKind from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $0.92.

Shares of MannKind (NASDAQ:MNKD) opened at $3.13 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43. MannKind has a 12-month low of $0.67 and a 12-month high of $6.96.

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

In other news, Director Kent Kresa bought 166,600 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MNKD. Balyasny Asset Management LLC purchased a new stake in MannKind in the second quarter valued at approximately $568,000. LMR Partners LLP purchased a new stake in MannKind in the second quarter valued at approximately $352,000. Dimensional Fund Advisors LP purchased a new stake in MannKind in the third quarter valued at approximately $270,000. Dupont Capital Management Corp purchased a new stake in MannKind in the third quarter valued at approximately $219,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in MannKind by 20.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 98,520 shares during the period. 12.65% of the stock is currently owned by institutional investors.

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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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