Zacks Investment Research cut shares of MannKind (NASDAQ:MNKD) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Mannkind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Company’s lead product, the Technosphere Insulin System, consists of the Company’s dry-powder Technosphere formulation of insulin and the Company’s MedTone inhaler through which the powder is inhaled into the deep lung. “

Other equities research analysts have also recently issued reports about the stock. HC Wainwright initiated coverage on shares of MannKind in a report on Tuesday, October 10th. They issued a buy rating for the company. Maxim Group reaffirmed a buy rating on shares of MannKind in a report on Friday, September 1st. BidaskClub cut shares of MannKind from a buy rating to a hold rating in a report on Saturday, December 2nd. Finally, ValuEngine cut shares of MannKind from a hold rating to a sell rating in a report on Wednesday, October 18th. Four equities 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 company’s stock. The company has a consensus rating of Hold and an average price target of $0.92.

Shares of MannKind (NASDAQ:MNKD) traded down $0.16 on Wednesday, reaching $2.81. 6,110,582 shares of the company were exchanged, compared to its average volume of 2,465,221. MannKind has a 52-week low of $0.67 and a 52-week high of $6.96. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.31 and a quick ratio of 0.28.

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

In other MannKind news, Director Kent Kresa bought 166,600 shares of MannKind stock in a transaction dated Friday, October 13th. The stock was acquired at an average cost of $6.00 per share, with a total value of $999,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in shares of MannKind during the third quarter worth about $270,000. Wells Fargo & Company MN increased its stake in shares of MannKind by 51.5% during the third quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after acquiring an additional 30,589 shares during the period. Macquarie Group Ltd. acquired a new position in shares of MannKind during the third quarter worth about $156,000. Bank of New York Mellon Corp increased its stake in shares of MannKind by 30.2% during the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 25,125 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in shares of MannKind during the third quarter worth about $219,000. Institutional investors and hedge funds own 12.18% of the company’s stock.

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About MannKind

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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