Post by brentie on Jul 14, 2015 12:25:15 GMT -5
MannKind Rating Lowered to Sell at Zacks
MannKind (NASDAQ:MNKD) was downgraded by Zacks from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, MarketBeat.Com reports.
According to Zacks, “MannKind’s first-quarter 2015 loss came in line with expectations. Although Afrezza enjoys a few advantages over traditional needle-based insulin therapy, several limitations in the drug’s label are concerning. Also, we remain worried about the company’s dependence on a single product for growth. However, MannKind’s decision to choose a large company like Sanofi as a partner for Afrezza is highly encouraging. Sanofi’s experience in the diabetes market should help successful commercialization of Afrezza which was launched in Feb 2014. The deal resulted in a substantial inflow of cash for MannKind.”
In other MannKind news, CEO Hakan Edstrom sold 73,460 shares of MannKind stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $4.83, for a total transaction of $354,811.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of other firms have also recently commented on MNKD. Analysts at Vetr upgraded shares of MannKind from a “buy” rating to a “strong-buy” rating and set a $6.59 price target on the stock in a research note on Tuesday. Analysts at RBC Capital reiterated an “outperform” rating and set a $10.00 price target on shares of MannKind in a research note on Thursday, June 25th. Finally, analysts at Jefferies Group reiterated a “buy” rating and set a $9.00 price target on shares of MannKind in a research note on Friday, June 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. MannKind presently has an average rating of “Hold” and an average target price of $5.61.
MannKind (NASDAQ:MNKD) traded down 0.2855% on Tuesday, hitting $5.5541. 1,822,191 shares of the company’s stock
traded hands. MannKind has a 52-week low of $3.46 and a 52-week high of $10.10. The stock has a 50-day moving average of $5.68 and a 200-day moving average of $5.54. The company’s market cap is $2.22 billion.
MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). During the same quarter in the previous year, the company posted ($0.14) earnings per share. Analysts expect that MannKind will post $-0.3100 EPS for the current fiscal year.
MannKind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. The Company’s product candidate is AFREZZA which is an ultra rapid-acting insulin that is intended to improve glycemic control in adults with type 1 or type 2 diabetes. AFREZZA is absorbed into the bloodstream more quickly than subcutaneously injected rapid acting insulin analogs and regular human insulin. The time action profile of AFREZZA mimics the early phase insulin response observed in healthy normal individuals after a meal, which is characteristically absent in patients with type 2 diabetes. The Company’s subsidiaries are AlleCure and CTL.
www.tickerreport.com/banking-finance/631722/mannkind-rating-lowered-to-sell-at-zacks-mnkd/
MannKind (NASDAQ:MNKD) was downgraded by Zacks from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, MarketBeat.Com reports.
According to Zacks, “MannKind’s first-quarter 2015 loss came in line with expectations. Although Afrezza enjoys a few advantages over traditional needle-based insulin therapy, several limitations in the drug’s label are concerning. Also, we remain worried about the company’s dependence on a single product for growth. However, MannKind’s decision to choose a large company like Sanofi as a partner for Afrezza is highly encouraging. Sanofi’s experience in the diabetes market should help successful commercialization of Afrezza which was launched in Feb 2014. The deal resulted in a substantial inflow of cash for MannKind.”
In other MannKind news, CEO Hakan Edstrom sold 73,460 shares of MannKind stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $4.83, for a total transaction of $354,811.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of other firms have also recently commented on MNKD. Analysts at Vetr upgraded shares of MannKind from a “buy” rating to a “strong-buy” rating and set a $6.59 price target on the stock in a research note on Tuesday. Analysts at RBC Capital reiterated an “outperform” rating and set a $10.00 price target on shares of MannKind in a research note on Thursday, June 25th. Finally, analysts at Jefferies Group reiterated a “buy” rating and set a $9.00 price target on shares of MannKind in a research note on Friday, June 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. MannKind presently has an average rating of “Hold” and an average target price of $5.61.
MannKind (NASDAQ:MNKD) traded down 0.2855% on Tuesday, hitting $5.5541. 1,822,191 shares of the company’s stock
traded hands. MannKind has a 52-week low of $3.46 and a 52-week high of $10.10. The stock has a 50-day moving average of $5.68 and a 200-day moving average of $5.54. The company’s market cap is $2.22 billion.
MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). During the same quarter in the previous year, the company posted ($0.14) earnings per share. Analysts expect that MannKind will post $-0.3100 EPS for the current fiscal year.
MannKind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. The Company’s product candidate is AFREZZA which is an ultra rapid-acting insulin that is intended to improve glycemic control in adults with type 1 or type 2 diabetes. AFREZZA is absorbed into the bloodstream more quickly than subcutaneously injected rapid acting insulin analogs and regular human insulin. The time action profile of AFREZZA mimics the early phase insulin response observed in healthy normal individuals after a meal, which is characteristically absent in patients with type 2 diabetes. The Company’s subsidiaries are AlleCure and CTL.
www.tickerreport.com/banking-finance/631722/mannkind-rating-lowered-to-sell-at-zacks-mnkd/