MannKind (MNKD) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of MannKind (NASDAQ:MNKD) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.

A number of other analysts have also recently issued reports on MNKD. Zacks Investment Research cut MannKind from a buy rating to a hold rating in a research report on Friday, March 30th. S&P Equity Research decreased their target price on MannKind from $3.49 to $2.77 in a research report on Thursday, January 25th. Finally, Maxim Group cut MannKind from a hold rating to a sell rating and set a $1.00 target price for the company. in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a sell rating, one has given 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 $1.88.

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Shares of NASDAQ MNKD opened at $1.79 on Wednesday. The stock has a market capitalization of $292.77, a P/E ratio of -1.54 and a beta of 2.91. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of -0.48. MannKind has a 52-week low of $0.67 and a 52-week high of $6.96.

MannKind (NASDAQ:MNKD) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $4.53 million during the quarter, compared to analyst estimates of $3.22 million. research analysts forecast that MannKind will post -0.85 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Zeke Capital Advisors LLC purchased a new stake in MannKind during the 4th quarter valued at approximately $306,000. Raymond James & Associates raised its stake in MannKind by 54.6% during the 4th quarter. Raymond James & Associates now owns 156,554 shares of the biopharmaceutical company’s stock valued at $363,000 after acquiring an additional 55,266 shares during the last quarter. Two Sigma Advisers LP raised its stake in MannKind by 1,083.3% during the 4th quarter. Two Sigma Advisers LP now owns 170,400 shares of the biopharmaceutical company’s stock valued at $395,000 after acquiring an additional 156,000 shares during the last quarter. Geode Capital Management LLC raised its stake in MannKind by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 551,568 shares of the biopharmaceutical company’s stock valued at $1,279,000 after acquiring an additional 70,542 shares during the last quarter. Finally, BlackRock Inc. raised its stake in MannKind by 82.8% during the 4th quarter. BlackRock Inc. now owns 3,534,811 shares of the biopharmaceutical company’s stock valued at $8,201,000 after acquiring an additional 1,600,802 shares during the last quarter. 19.57% of the stock is owned by hedge funds and other institutional investors.

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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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