MannKind (MNKD) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a sell rating in a research report sent to investors on Friday.

Other equities analysts have also recently issued reports about the company. HC Wainwright started coverage on MannKind in a report on Tuesday, October 10th. They issued a buy rating for the company. Maxim Group reiterated a buy rating on shares of MannKind in a report on Friday, September 1st. Zacks Investment Research upgraded MannKind from a sell rating to a hold rating in a report on Wednesday, October 11th. Finally, ValuEngine cut MannKind from a hold rating to a sell rating in a report on Wednesday, October 18th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Sell and a consensus target price of $0.92.

MannKind (NASDAQ:MNKD) traded down $0.11 during trading on Friday, reaching $2.41. The company had a trading volume of 4,828,215 shares, compared to its average volume of 3,120,000. MannKind has a twelve month low of $0.67 and a twelve month high of $6.96. The company has a debt-to-equity ratio of -0.43, a quick ratio of 0.28 and a current ratio of 0.31. The stock has a market capitalization of $264.76, a PE ratio of -8.93 and a beta of 3.07.

MannKind (NASDAQ:MNKD) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). MannKind had a negative return on equity of 24.93% and a negative net margin of 155.83%. The business had revenue of $2.04 million for the quarter, compared to analysts’ expectations of $2.56 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. MannKind’s quarterly revenue was down 98.7% compared to the same quarter last year. equities research analysts predict that MannKind will post -1.13 EPS for the current year.

In related news, Director Kent Kresa bought 166,600 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $999,600.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stuart A. Tross bought 39,840 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were bought 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 in the company, valued at $150,796.80. The disclosure for this purchase can be found here. Insiders bought a total of 214,440 shares of company stock valued at $1,118,317 over the last quarter. Company insiders own 1.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Balyasny Asset Management LLC purchased a new stake in MannKind during the 2nd quarter valued at about $568,000. Dimensional Fund Advisors LP purchased a new stake in MannKind during the 3rd quarter valued at about $270,000. Bank of New York Mellon Corp boosted its holdings in MannKind by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 25,125 shares during the period. Dupont Capital Management Corp bought a new position in MannKind during the 3rd quarter valued at approximately $219,000. Finally, Wells Fargo & Company MN raised its position in MannKind by 51.5% during the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after purchasing an additional 30,589 shares during the last quarter. Institutional investors own 12.11% of the company’s stock.

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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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