MannKind Corporation (NASDAQ:MNKD) shares shot up 9.3% during trading on Tuesday . The company traded as high as $2.25 and last traded at $2.23. 4,368,790 shares changed hands during mid-day trading, an increase of 79% from the average session volume of 2,439,950 shares. The stock had previously closed at $2.04.

A number of brokerages have commented on MNKD. ValuEngine downgraded MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. J P Morgan Chase & Co restated an “underweight” rating on shares of MannKind Corporation in a research note on Monday, May 22nd. Finally, Zacks Investment Research downgraded MannKind Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. MannKind Corporation has an average rating of “Hold” and an average target price of $0.92.

The company has a market capitalization of $233.44 million, a P/E ratio of 1.68 and a beta of 3.16. The stock has a 50 day moving average of $1.48 and a 200-day moving average of $1.48.

MannKind Corporation (NASDAQ:MNKD) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.10). The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.75 million. MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. During the same quarter in the previous year, the business earned $0.08 EPS. Analysts expect that MannKind Corporation will post ($0.94) earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of MannKind Corporation by 20.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 98,520 shares in the last quarter. KCG Holdings Inc. grew its holdings in shares of MannKind Corporation by 268.0% in the 1st quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 107,752 shares in the last quarter. LMR Partners LLP bought a new position in shares of MannKind Corporation in the 2nd quarter valued at about $352,000. Finally, Balyasny Asset Management LLC bought a new position in shares of MannKind Corporation in the 2nd quarter valued at about $568,000. Institutional investors own 15.67% of the company’s stock.

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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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