California Public Employees Retirement System continued to hold its position in MannKind Corporation (NASDAQ:MNKD) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,060 shares of the biopharmaceutical company’s stock at the end of the second quarter. California Public Employees Retirement System owned 0.09% of MannKind worth $123,000 as of its most recent SEC filing.
Separately, LMR Partners LLP acquired a new position in MannKind during the second quarter worth $352,000. 12.65% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on MNKD. BidaskClub cut MannKind from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine upgraded MannKind from a “strong sell” rating to a “sell” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research note on Wednesday, November 8th. Maxim Group reiterated a “hold” rating on shares of MannKind in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $0.92.
MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.11). The company had revenue of $2.04 million during the quarter, compared to analyst estimates 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 revenue was down 98.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 earnings per share. equities research analysts anticipate that MannKind Corporation will post -1.13 EPS for the current year.
In related news, Director Kent Kresa acquired 166,600 shares of MannKind stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $999,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.
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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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