MannKind (NASDAQ:MNKD) Rating Lowered to "Hold" at Wall Street Zen

MannKind (NASDAQ:MNKD - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

A number of other equities analysts also recently weighed in on the stock. Wedbush restated an "outperform" rating and set a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Mizuho started coverage on shares of MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $10.33.

MannKind Price Performance

MNKD traded down $0.01 during trading on Friday, reaching $3.76. The company had a trading volume of 9,453,914 shares, compared to its average volume of 2,423,436. The business's fifty day moving average price is $4.32 and its 200 day moving average price is $5.17. The company has a market cap of $1.14 billion, a P/E ratio of 37.60 and a beta of 1.02. MannKind has a 12 month low of $3.63 and a 12 month high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million during the quarter, compared to the consensus estimate of $75.86 million. During the same period last year, the company earned $0.05 earnings per share. The business's revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that MannKind will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at MannKind

In other MannKind news, EVP David Thomson sold 32,179 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the sale, the executive vice president now owns 772,427 shares in the company, valued at approximately $3,614,958.36. The trade was a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven B. Binder sold 80,144 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total value of $375,875.36. Following the transaction, the director now owns 1,006,611 shares of the company's stock, valued at $4,721,005.59. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 190,831 shares of company stock valued at $846,298 in the last three months. Corporate insiders own 2.70% of the company's stock.

Institutional Trading of MannKind

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of MannKind by 358.6% in the 4th quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock valued at $1,411,000 after purchasing an additional 171,537 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in MannKind by 275.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after buying an additional 3,587,484 shares during the period. Charles Schwab Investment Management Inc. boosted its position in MannKind by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock valued at $14,597,000 after acquiring an additional 45,277 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in MannKind during the fourth quarter valued at $70,000. Finally, Cibc World Markets Corp acquired a new stake in MannKind during the 4th quarter worth about $162,000. Institutional investors and hedge funds own 49.55% of the company's stock.

About MannKind

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.