MannKind Corporation (MNKD) Stock Rating Upgraded by Zacks Investment Research

MannKind Corporation (NASDAQ:MNKD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

Several other research firms also recently weighed in on MNKD. HC Wainwright initiated coverage on MannKind Corporation in a research report on Tuesday. They set a “buy” rating on the stock. Maxim Group reiterated a “buy” rating on shares of MannKind Corporation in a research report on Friday, September 1st. Finally, ValuEngine downgraded MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. MannKind Corporation has a consensus rating of “Hold” and a consensus target price of $0.92.

MannKind Corporation (NASDAQ:MNKD) opened at 5.47 on Wednesday. MannKind Corporation has a 12 month low of $0.67 and a 12 month high of $6.96. The stock’s 50 day moving average price is $2.66 and its 200-day moving average price is $1.64. The stock has a market cap of $572.61 million, a PE ratio of 4.12 and a beta of 3.16.

MannKind Corporation (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.75 million. During the same period in the previous year, the firm earned $0.08 EPS. Analysts anticipate that MannKind Corporation will post ($0.95) EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of 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 valued at $830,000 after acquiring an additional 98,520 shares in the last quarter. KCG Holdings Inc. lifted its position in shares of MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 107,752 shares in the last quarter. LMR Partners LLP purchased a new position in shares of MannKind Corporation in the second quarter valued at about $352,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of MannKind Corporation in the second quarter valued at about $568,000. Institutional investors and hedge funds own 15.67% of the company’s stock.

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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