MannKind Corporation (NASDAQ:MNKD) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 21,443,416 shares, a decrease of 5.7% from the July 14th total of 22,744,054 shares. Currently, 35.5% of the company’s stock are sold short. Based on an average daily volume of 1,489,467 shares, the days-to-cover ratio is presently 14.4 days.
MNKD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of MannKind Corporation in a research note on Thursday, May 11th. S&P Equity Research reduced their price objective on shares of MannKind Corporation from $1.04 to $0.83 in a research note on Monday, May 8th. ValuEngine downgraded shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies set a $1.00 price objective on shares of MannKind Corporation and gave the company a “sell” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research downgraded shares of MannKind Corporation from a “hold” rating to a “sell” rating in a research note on Saturday.
MannKind Corporation (NASDAQ MNKD) opened at 1.19 on Friday. The company has a market capitalization of $120.20 million, a P/E ratio of 0.84 and a beta of 3.30. The firm’s 50-day moving average is $1.29 and its 200-day moving average is $1.23. MannKind Corporation has a 1-year low of $0.41 and a 1-year high of $2.38.
MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.10. MannKind Corporation had a negative return on equity of 24.93% and a net margin of 71.60%. The business had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.75 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Equities research analysts predict that MannKind Corporation will post ($1.09) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. KCG Holdings Inc. increased its stake 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. LMR Partners LLP acquired a new stake in MannKind Corporation during the second quarter worth $352,000. Harel Insurance Investments & Financial Services Ltd. increased its stake 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. Norges Bank acquired a new stake in MannKind Corporation during the fourth quarter worth $866,000. Finally, State Street Corp increased its stake 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. Hedge funds and other institutional investors own 17.69% of the company’s stock.
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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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