MannKind (MNKD) Lifted to Buy at Zacks Investment Research


MannKind (NASDAQ:MNKD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $2.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.58% from the stock’s previous close.


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. “

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MNKD has been the subject of several other research reports. BidaskClub upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. S&P Equity Research reduced their target price on shares of MannKind from $3.49 to $2.77 in a research note on Thursday, January 25th. Maxim Group reiterated a “hold” rating on shares of MannKind in a research note on Tuesday, January 30th. HC Wainwright set a $5.00 target price on shares of MannKind and gave the stock a “buy” rating in a research note on Thursday, May 10th. Finally, ValuEngine raised shares of MannKind from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $2.76.


MannKind opened at $1.93 on Thursday, according to Marketbeat Ratings. MannKind has a 1 year low of $1.09 and a 1 year high of $6.96. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of -0.43.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.02). The firm had revenue of $3.47 million for the quarter, compared to analysts’ expectations of $3.53 million. During the same period last year, the firm posted ($0.17) EPS. equities analysts predict that MannKind will post -0.83 EPS for the current year.


Several large investors have recently modified their holdings of MNKD. Wells Fargo & Company MN boosted its holdings in shares of MannKind 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 last quarter. Dimensional Fund Advisors LP purchased a new position in shares of MannKind in the 3rd quarter worth about $270,000. Element Capital Management LLC purchased a new position in shares of MannKind in the 1st quarter worth about $287,000. Zeke Capital Advisors LLC purchased a new position in shares of MannKind in the 4th quarter worth about $306,000. Finally, Raymond James & Associates boosted its holdings in shares of MannKind by 54.6% in the 4th quarter. Raymond James & Associates now owns 156,554 shares of the biopharmaceutical company’s stock worth $363,000 after buying an additional 55,266 shares during the last quarter. 19.41% of the stock is currently owned by institutional investors.


MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

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