Credit Suisse AG Trims Stake in MannKind Corporation (MNKD)
Credit Suisse AG trimmed its holdings in MannKind Corporation (NASDAQ:MNKD) by 76.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,915 shares of the biopharmaceutical company’s stock after selling 227,907 shares during the quarter. Credit Suisse AG owned 0.07% of MannKind Corporation worth $102,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, KCG Holdings Inc. raised its stake in shares of MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 107,752 shares in the last quarter. Institutional investors and hedge funds own 15.67% of the company’s stock.
A number of research analysts recently commented on MNKD shares. J P Morgan Chase & Co restated an “underweight” rating on shares of MannKind Corporation in a research note on Monday, May 22nd. ValuEngine lowered MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered MannKind Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $0.92.
Shares of MannKind Corporation (NASDAQ MNKD) traded up 4.04% on Monday, hitting $2.06. The company had a trading volume of 2,783,620 shares. The firm has a 50-day moving average price of $1.46 and a 200 day moving average price of $1.39. MannKind Corporation has a 12-month low of $0.67 and a 12-month high of $4.34. The company has a market capitalization of $215.64 million, a P/E ratio of 1.55 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 analysts’ consensus estimates of ($0.25) by $0.10. MannKind Corporation had a negative return on equity of 24.93% and a net margin of 71.60%. The firm had revenue of $2.16 million during the quarter, compared to analyst estimates of $2.75 million. During the same period in the previous year, the company earned $0.08 EPS. Equities analysts expect that MannKind Corporation will post ($0.94) EPS for the current year.
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MannKind Corporation 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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