ValuEngine upgraded shares of MannKind (NASDAQ:MNKD) from a strong sell rating to a sell rating in a report published on Thursday morning.

MNKD has been the subject of a number of other research reports. HC Wainwright assumed coverage on MannKind in a report on Tuesday, October 10th. They set a buy rating for the company. Zacks Investment Research downgraded MannKind from a hold rating to a sell rating in a report on Saturday, August 12th. Finally, Maxim Group reaffirmed a buy rating on shares of MannKind in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. MannKind has an average rating of Hold and a consensus target price of $0.92.

Shares of MannKind (MNKD) opened at $3.13 on Thursday. The company has a debt-to-equity ratio of -0.43, a quick ratio of 0.28 and a current ratio of 0.31. MannKind has a twelve month low of $0.67 and a twelve month high of $6.96.

MannKind (NASDAQ:MNKD) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Zacks’ 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 analyst estimates of $2.56 million. During the same period last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was down 98.7% compared to the same quarter last year. sell-side analysts predict that MannKind will post -1.13 earnings per share for the current fiscal year.

In other news, Director Kent Kresa bought 166,600 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average price of $6.00 per share, with a total value of $999,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in MannKind during the third quarter valued at approximately $156,000. Wells Fargo & Company MN raised its position in MannKind by 51.5% during the third quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock valued at $196,000 after acquiring an additional 30,589 shares in the last quarter. Dupont Capital Management Corp purchased a new position in MannKind during the third quarter valued at approximately $219,000. Bank of New York Mellon Corp raised its position in MannKind by 30.2% during the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 25,125 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in MannKind during the third quarter valued at approximately $270,000. Institutional investors own 12.65% of the company’s stock.

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MannKind Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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