MannKind (NASDAQ:MNKD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of MannKind (NASDAQ:MNKD - Free Report) from a buy rating to a hold rating in a report published on Friday.

MNKD has been the topic of several other reports. Wedbush reissued an "outperform" rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Mizuho initiated coverage on shares of MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MannKind currently has a consensus rating of "Buy" and a consensus target price of $10.33.

MannKind Trading Down 0.5%

MNKD traded down $0.02 during midday trading on Friday, hitting $3.74. 3,315,561 shares of the company were exchanged, compared to its average volume of 2,415,301. The company's 50 day simple moving average is $4.32 and its 200 day simple moving average is $5.15. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 37.40 and a beta of 1.02. MannKind has a 1-year low of $3.63 and a 1-year high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. MannKind had a net margin of 10.12% and a negative return on equity of 32.41%. The business had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same period in the prior year, the company posted $0.05 EPS. The company's revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts anticipate that MannKind will post 0.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven B. Binder sold 80,144 shares of MannKind stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the transaction, the director owned 1,006,611 shares in the company, valued at approximately $4,721,005.59. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Thomson sold 32,179 shares of MannKind stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the transaction, the executive vice president owned 772,427 shares in the company, valued at approximately $3,614,958.36. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,831 shares of company stock worth $846,298. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of MannKind by 4.4% during the 1st quarter. Rhumbline Advisers now owns 399,033 shares of the biopharmaceutical company's stock worth $2,007,000 after buying an additional 16,807 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MannKind by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company's stock valued at $3,374,000 after purchasing an additional 53,202 shares during the last quarter. Millennium Management LLC increased its holdings in MannKind by 68.9% in the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company's stock valued at $29,288,000 after purchasing an additional 2,375,198 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MannKind by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company's stock valued at $1,059,000 after purchasing an additional 6,079 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in MannKind by 5.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,029,319 shares of the biopharmaceutical company's stock valued at $10,207,000 after purchasing an additional 110,945 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.