MannKind Corporation (NASDAQ:MNKD) gapped up prior to trading on Monday . The stock had previously closed at $2.00, but opened at $2.17. MannKind Corporation shares last traded at $2.34, with a volume of 9,296,325 shares changing hands.

MNKD has been the subject of a number of recent research reports. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. ValuEngine lowered shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of MannKind Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $0.92.

The stock has a 50-day moving average price of $1.85 and a 200 day moving average price of $1.47. The company has a market capitalization of $244.96 million, a price-to-earnings ratio of 1.60 and a beta of 3.16.

MannKind Corporation (NASDAQ:MNKD) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) 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 business had revenue of $2.16 million for the quarter, compared to the consensus estimate of $2.75 million. During the same period in the prior year, the business posted $0.08 earnings per share. Equities analysts predict that MannKind Corporation will post ($0.94) earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. KCG Holdings Inc. raised its position 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 buying an additional 107,752 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in MannKind Corporation by 20.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 98,520 shares during the period. LMR Partners LLP bought a new position in MannKind Corporation during the 2nd quarter worth $352,000. Finally, Balyasny Asset Management LLC bought a new position in MannKind Corporation during the 2nd quarter worth $568,000. 15.67% of the stock is currently owned by institutional investors.

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About MannKind Corporation

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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