MannKind Corporation (NASDAQ:MNKD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.93, but opened at $1.98. MannKind Corporation shares last traded at $2.00, with a volume of 1,896,795 shares trading hands.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of MannKind Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. ValuEngine cut shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. J P Morgan Chase & Co reaffirmed an “underweight” rating on shares of MannKind Corporation in a research note on Monday, May 22nd. Finally, Maxim Group reaffirmed a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $0.92.
The stock has a market cap of $207.27 million, a P/E ratio of 1.49 and a beta of 3.16. The stock has a 50 day moving average of $1.45 and a 200-day moving average of $1.38.
MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The company had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.75 million. MannKind Corporation had a negative return on equity of 24.93% and a net margin of 71.60%. During the same quarter in the previous year, the firm posted $0.08 EPS. Equities analysts predict that MannKind Corporation will post ($0.94) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Balyasny Asset Management LLC acquired a new stake in MannKind Corporation during the 2nd quarter worth about $568,000. LMR Partners LLP acquired a new stake in MannKind Corporation during the 2nd quarter worth about $352,000. KCG Holdings Inc. raised its holdings in MannKind Corporation by 268.0% during the 1st 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 during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in MannKind Corporation by 20.1% during the 2nd 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 during the period. Hedge funds and other institutional investors own 15.67% 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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