MannKind Corporation (NASDAQ:MNKD) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

MNKD has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating on shares of MannKind Corporation in a research note on Wednesday, November 8th. Maxim Group reissued a “hold” rating on shares of MannKind Corporation in a research report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded 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, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $0.92.

MannKind Corporation (MNKD) opened at $3.21 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43. MannKind Corporation has a one year low of $0.67 and a one year high of $6.96.

MannKind Corporation (NASDAQ:MNKD) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.11). MannKind Corporation had a negative return on equity of 24.93% and a negative net margin of 155.83%. The firm had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $2.56 million. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 98.7% compared to the same quarter last year. research analysts forecast that MannKind Corporation will post -1.13 EPS for the current year.

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In related news, Director Kent Kresa acquired 166,600 shares of MannKind Corporation stock in a transaction on Friday, October 13th. The shares were acquired at an average cost of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in MNKD. Macquarie Group Ltd. purchased a new stake in shares of MannKind Corporation in the 3rd quarter worth about $156,000. Wells Fargo & Company MN grew its position in shares of MannKind Corporation by 51.5% in the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 30,589 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of MannKind Corporation in the 3rd quarter worth about $219,000. KCG Holdings Inc. grew its position 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 worth $219,000 after buying an additional 107,752 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of MannKind Corporation by 30.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 25,125 shares during the period. 13.96% of the stock is currently owned by hedge funds and other institutional investors.

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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