ValuEngine Upgrades MannKind (NASDAQ:MNKD) to “Hold”

MannKind (NASDAQ:MNKD) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research firms also recently commented on MNKD. BidaskClub downgraded MannKind from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. BTIG Research assumed coverage on MannKind in a report on Tuesday, May 14th. They issued a “buy” rating and a $3.00 price objective for the company. Finally, HC Wainwright reduced their price objective on MannKind from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. MannKind presently has an average rating of “Buy” and an average price target of $3.00.

NASDAQ MNKD traded up $0.01 during trading hours on Thursday, hitting $1.18. The company’s stock had a trading volume of 1,546,272 shares, compared to its average volume of 1,771,029. MannKind has a 12 month low of $0.94 and a 12 month high of $3.04. The stock has a 50 day moving average price of $1.12. The company has a market capitalization of $221.58 million, a P/E ratio of -2.00 and a beta of 2.32.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $17.45 million during the quarter, compared to the consensus estimate of $18.03 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Equities analysts forecast that MannKind will post -0.3 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in MannKind by 1.3% in the fourth quarter. BlackRock Inc. now owns 11,832,404 shares of the biopharmaceutical company’s stock worth $12,541,000 after purchasing an additional 149,682 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 202,865 shares during the last quarter. Dupont Capital Management Corp boosted its position in MannKind by 3.2% in the second quarter. Dupont Capital Management Corp now owns 494,200 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 15,100 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MannKind by 9.0% in the fourth quarter. Bank of New York Mellon Corp now owns 433,294 shares of the biopharmaceutical company’s stock worth $459,000 after purchasing an additional 35,721 shares during the last quarter. Finally, Raymond James & Associates boosted its position in MannKind by 30.1% in the fourth quarter. Raymond James & Associates now owns 336,699 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 77,875 shares during the last quarter. 26.97% of the stock is currently owned by institutional investors and hedge funds.

About MannKind

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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