MannKind Corporation (NASDAQ:MNKD) dropped 9.7% on Monday . The stock traded as low as $1.85 and last traded at $1.87. Approximately 7,809,379 shares changed hands during trading, an increase of 233% from the average daily volume of 2,345,080 shares. The stock had previously closed at $2.07.

Several research firms have recently commented on MNKD. J P Morgan Chase & Co reaffirmed an “underweight” rating on shares of MannKind Corporation in a research report on Monday, May 22nd. ValuEngine cut shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Maxim Group reaffirmed a “buy” rating on shares of MannKind Corporation in a research report on Friday, September 1st. Zacks Investment Research cut shares of MannKind Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $1.00 target price on shares of MannKind Corporation and gave the stock a “sell” rating in a research report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. MannKind Corporation presently has an average rating of “Hold” and an average price target of $0.92.

The company has a 50 day moving average of $1.41 and a 200-day moving average of $1.36. The company has a market capitalization of $213.55 million, a PE ratio of 1.54 and a beta of 3.16.

MannKind Corporation (NASDAQ:MNKD) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.10. The company had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.75 million. MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities analysts predict that MannKind Corporation will post ($0.94) earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of MannKind Corporation by 20.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 98,520 shares during the period. Balyasny Asset Management LLC purchased a new stake in MannKind Corporation in the second quarter worth about $568,000. LMR Partners LLP purchased a new stake in MannKind Corporation in the second quarter worth about $352,000. Finally, KCG Holdings Inc. lifted its stake in MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 107,752 shares during the period. 15.67% of the stock is owned by hedge funds and other institutional investors.

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About MannKind Corporation

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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