MannKind (MNKD) Rating Increased to Hold at BidaskClub

MannKind (NASDAQ:MNKD) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

MNKD has been the topic 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 reaffirmed a “hold” rating on shares of MannKind in a report on Wednesday, November 1st. Zacks Investment Research lowered MannKind from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. ValuEngine lowered MannKind from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Finally, S&P Equity Research dropped their price objective on MannKind from $3.49 to $2.77 in a report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. MannKind has an average rating of “Hold” and an average price target of $1.89.

MannKind (NASDAQ MNKD) opened at $2.61 on Friday. The stock has a market capitalization of $299.82, a P/E ratio of -9.67 and a beta of 3.18. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of -0.43. MannKind has a twelve month low of $0.67 and a twelve month high of $6.96.

MannKind (NASDAQ:MNKD) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company’s revenue for the quarter was down 98.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. sell-side analysts forecast that MannKind will post -1.13 EPS for the current year.

In other MannKind news, VP Stuart A. Tross acquired 39,840 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were purchased at an average price of $2.52 per share, with a total value of $100,396.80. Following the completion of the acquisition, the vice president now directly owns 59,840 shares of the company’s stock, valued at approximately $150,796.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MNKD. Macquarie Group Ltd. acquired a new position in MannKind during the third quarter worth $156,000. Wells Fargo & Company MN boosted its position in MannKind by 51.5% during the third quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 30,589 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in MannKind during the third quarter worth $219,000. Bank of New York Mellon Corp boosted its position in MannKind by 30.2% during the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 25,125 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in MannKind during the third quarter worth $270,000. 12.25% of the stock is currently owned by hedge funds and other 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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