S&P Equity Research Cuts MannKind (MNKD) Price Target to $2.77

Galtero Lara
Enero 27, 2018

Latest evolution in the price of MannKind Corporation (NASDAQ:MNKD) stock has been one of the most talked about matter among the interested investors. A higher P/S ratio means that the market is willing to pay for each dollar of annual sales and a better benchmark is to compare with industry average.

Valued now at $2.5, the vast majority of Wall Street analysts continue to say it's a hold.

When thinking about buying shares in a public company, it is useful to gauge the average enthusiasm level of Wall Street analysts for that specific stock. HC Wainwright initiated coverage on MannKind in a research note on Tuesday, October 10th. Finally, BidaskClub lowered MannKind from a "buy" rating to a "hold" rating in a report on Saturday, December 2nd. At present, 0 analysts call it Sell, while 1 think it is Hold. Maxim Group downgraded the shares of MNKD in report on Wednesday, November 1 to "Hold" rating. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. The company now has a consensus rating of Hold and a consensus price target of $1.89.

Mannkind Corporation (NASDAQ:MNKD) as of recent trade, has shown weekly upbeat performance of 1.21% which was maintained at 9.65% in 1-month period. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.31 and a quick ratio of 0.28.

Right now, MNKD's beta is 3.1.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Tuesday, November 7th. 1 analysts recommended Overweight these shares while 0 recommended Underweight, according to FactSet data. MannKind had a negative net margin of 155.83% and a negative return on equity of 24.93%. According to their predictions high & low revenue estimates are 3.22 Million and 2 Million respectively. The firm's revenue for the quarter was down 98.7% compared to the same quarter past year. During the same period previous year, the business earned $1.30 earnings per share.

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In related news, VP Stuart A. Tross bought 39,840 shares of the stock in a transaction dated Thursday, December 21st. The company had revenue of $2.04 million during the quarter, compared to the consensus estimate of $2.56 million. Therefore, the company continues to generate cash by issuing common stock shares. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

A number of hedge funds have recently modified their holdings of MNKD. Balyasny Asset Management LLC acquired a new stake in MannKind during the second quarter valued at approximately $568,000. Finally, Bank of New York Mellon Corp raised its position in MannKind 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 purchasing an additional 25,125 shares during the last quarter.

For investors it's vital to know about both type of ownership about firm, as institutional ownership is the percentage of a stock's float owned by institutions such as mutual funds, pension funds and endowments.

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MannKind Corporation is a biopharmaceutical company.

MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes diseases in the United States. The Company's approved product is Afrezza, a rapid-acting, inhaled insulin used to control high blood sugar in adults with type 1 and type 2 diabetes.

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