MannKind Corporation (NASDAQ:MNKD) Receives Average Rating of “Buy” from Analysts

MannKind Corporation (NASDAQ:MNKD) has earned an average rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.14.

A number of equities research analysts have commented on MNKD shares. Wall Street Zen raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Friday. HC Wainwright raised shares of MannKind to a “buy” rating and set a $9.00 target price on the stock in a research report on Wednesday. Finally, Mizuho started coverage on shares of MannKind in a research report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 target price on the stock.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 75,367 shares of MannKind stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $3.94, for a total transaction of $296,945.98. Following the completion of the transaction, the director owned 830,508 shares in the company, valued at approximately $3,272,201.52. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Thomson sold 32,179 shares of MannKind stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total transaction of $150,597.72. Following the transaction, the executive vice president owned 772,427 shares of the company’s stock, valued at approximately $3,614,958.36. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,198 shares of company stock worth $1,143,244. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently modified their holdings of MNKD. Farther Finance Advisors LLC increased its position in MannKind by 1,379.2% during the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 6,896 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in MannKind during the fourth quarter worth approximately $37,000. Blueshift Asset Management LLC acquired a new position in MannKind during the first quarter worth approximately $51,000. Kapitalo Investimentos Ltda acquired a new position in MannKind during the second quarter worth approximately $51,000. Finally, Sowell Financial Services LLC acquired a new position in MannKind during the first quarter worth approximately $56,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MNKD stock opened at $3.76 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of 37.60 and a beta of 0.96. MannKind has a one year low of $3.51 and a one year high of $7.63. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $4.88.

MannKind (NASDAQ:MNKD) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. MannKind had a net margin of 10.12% and a negative return on equity of 32.41%. The company had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, research analysts predict that MannKind will post 0.1 EPS for the current fiscal year.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.