MannKind (MNKD) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of MannKind (NASDAQ:MNKD) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Several other analysts have also issued reports on MNKD. ValuEngine upgraded shares of MannKind from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Svb Leerink started coverage on shares of MannKind in a research report on Friday, February 22nd. They issued an outperform rating and a $3.00 target price on the stock. Finally, Leerink Swann started coverage on shares of MannKind in a research report on Friday, February 22nd. They issued an outperform rating and a $3.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. MannKind currently has an average rating of Hold and an average target price of $3.06.

Shares of NASDAQ MNKD opened at $1.57 on Thursday. MannKind has a 52-week low of $0.94 and a 52-week high of $3.04. The stock has a market capitalization of $294.81 million, a PE ratio of -2.66 and a beta of 2.69.

MannKind (NASDAQ:MNKD) last announced its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.11. The company had revenue of $16.03 million during the quarter, compared to analyst estimates of $5.20 million. During the same quarter last year, the business earned ($0.28) EPS. Sell-side analysts forecast that MannKind will post -0.19 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in shares of MannKind by 3,449,500.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,496 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 34,495 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of MannKind by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 1,666,104 shares of the biopharmaceutical company’s stock worth $1,766,000 after buying an additional 202,865 shares in the last quarter. Raging Capital Management LLC lifted its stake in shares of MannKind by 7,166.3% in the fourth quarter. Raging Capital Management LLC now owns 3,444,971 shares of the biopharmaceutical company’s stock worth $3,652,000 after buying an additional 3,397,561 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of MannKind in the fourth quarter worth about $2,649,000. Finally, CVI Holdings LLC purchased a new position in shares of MannKind in the fourth quarter worth about $11,359,000. 30.02% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

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