NEW YORK (TheStreet) -- Investors haven't been kind to MannKind (MNKD) - Get Report Tuesday following a downgrade from Goldman Sachs to sell from neutral. Analysts also slashed their price target for the stock to $3 from $6.
Shares recently fell nearly 9% to $6.10.
The report was "unkind," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said during CNBC's "Stop Trading" segment. The downgrade came a day after the company's inhalable insulin treatment, Afrezza, got a lackluster review from an independent arbiter.
The "so negative" analyst report has created a "problematic situation," Cramer said.
-- Written by Bret Kenwell
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.