Zacks Investment Research downgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

Other equities research analysts also recently issued reports about the company. HC Wainwright initiated coverage on MannKind in a research report on Tuesday, October 10th. They set a buy rating on the stock. Maxim Group reaffirmed a buy rating on shares of MannKind in a research report on Friday, September 1st. BidaskClub downgraded MannKind from a buy rating to a hold rating in a research report on Saturday, December 2nd. Finally, ValuEngine downgraded MannKind from a hold rating to a sell rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $0.92.

Shares of MannKind (MNKD) opened at $2.81 on Wednesday. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.31 and a quick ratio of 0.28. MannKind has a 12-month low of $0.67 and a 12-month high of $6.96.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.11). The company had revenue of $2.04 million for the quarter, compared to analyst estimates of $2.56 million. MannKind had a negative return on equity of 24.93% and a negative net margin of 155.83%. MannKind’s revenue for the quarter was down 98.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. analysts anticipate that MannKind will post -1.13 earnings per share for the current year.

In other news, Director Kent Kresa bought 166,600 shares of the stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC purchased a new stake in shares of MannKind during the 2nd quarter worth about $568,000. LMR Partners LLP purchased a new position in MannKind in the 2nd quarter valued at about $352,000. Dupont Capital Management Corp purchased a new position in MannKind in the 3rd quarter valued at about $219,000. Dimensional Fund Advisors LP purchased a new position in MannKind in the 3rd quarter valued at about $270,000. Finally, Macquarie Group Ltd. purchased a new position in MannKind in the 3rd quarter valued at about $156,000. 12.18% of the stock is currently owned by institutional investors and hedge funds.

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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.

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