MannKind Co. (NASDAQ:MNKD) has been assigned an average rating of “Sell” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $0.92.

Several research firms have issued reports on MNKD. Zacks Investment Research upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. HC Wainwright started coverage on shares of MannKind in a research note on Tuesday, October 10th. They issued a “buy” rating for the company. ValuEngine lowered shares of MannKind from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Maxim Group reiterated a “hold” rating on shares of MannKind in a research note on Wednesday, November 1st. Finally, BidaskClub lowered shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd.

MannKind (MNKD) opened at $2.41 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43. MannKind has a fifty-two week low of $0.67 and a fifty-two week high of $6.96. The stock has a market cap of $264.76, a P/E ratio of -8.93 and a beta of 3.07.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $2.04 million for the quarter, compared to the consensus estimate of $2.56 million. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was down 98.7% compared to the same quarter last year. sell-side analysts forecast that MannKind will post -1.13 earnings per share for the current year.

In other MannKind news, Director Kent Kresa purchased 166,600 shares of MannKind stock in a transaction that occurred on Friday, October 13th. The stock was acquired at an average price of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Stuart A. Tross purchased 39,840 shares of MannKind stock in a transaction that occurred on Thursday, December 21st. The stock was acquired at an average cost of $2.52 per share, with a total value of $100,396.80. Following the transaction, the vice president now owns 59,840 shares in the company, valued at approximately $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 in the last quarter. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management LLC purchased a new position in MannKind during the 2nd quarter worth $568,000. Dimensional Fund Advisors LP purchased a new position in MannKind during the 3rd quarter worth $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 worth $236,000 after acquiring an additional 25,125 shares during the last quarter. Dupont Capital Management Corp purchased a new position in MannKind during the 3rd quarter worth $219,000. Finally, Wells Fargo & Company MN boosted its holdings in MannKind by 51.5% during the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after acquiring an additional 30,589 shares during the last quarter. 12.11% of the stock is owned by institutional investors and hedge funds.

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About MannKind

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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