MannKind (NASDAQ:MNKD) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts have also recently issued reports on MNKD. Zacks Investment Research cut shares of MannKind from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. ValuEngine raised shares of MannKind from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. HC Wainwright set a $5.00 price objective on shares of MannKind and gave the company a “buy” rating in a research note on Thursday, May 10th. S&P Equity Research cut their price objective on shares of MannKind from $3.49 to $2.77 in a research note on Thursday, January 25th. Finally, Maxim Group cut shares of MannKind from a “hold” rating to a “sell” rating and set a $1.00 price objective for the company. in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. MannKind presently has a consensus rating of “Hold” and an average price target of $2.69.
Shares of MannKind opened at $1.99 on Wednesday, MarketBeat reports. MannKind has a 52-week low of $1.86 and a 52-week high of $1.91. The firm has a market capitalization of $263.25 million, a PE ratio of -1.72 and a beta of 2.92. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.43 and a quick ratio of 0.39.
Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted 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 buying an additional 30,589 shares during the period. Bank of New York Mellon Corp boosted its position 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 buying an additional 25,125 shares during the period. Dimensional Fund Advisors LP purchased a new stake in MannKind during the 3rd quarter valued at $270,000. Element Capital Management LLC purchased a new stake in MannKind during the 1st quarter valued at $287,000. Finally, Zeke Capital Advisors LLC purchased a new stake in MannKind during the 4th quarter valued at $306,000. 17.87% of the stock is owned by institutional investors and hedge funds.
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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