MannKind (NASDAQ:MNKD) Upgraded at Wall Street Zen

MannKind (NASDAQ:MNKD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently issued reports on MNKD. HC Wainwright upgraded shares of MannKind to a “buy” rating and set a $9.00 target price for the company in a research report on Wednesday. Mizuho began coverage on shares of MannKind in a research report on Thursday, April 10th. They set an “outperform” rating and a $12.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, MannKind has a consensus rating of “Buy” and a consensus target price of $10.14.

MannKind Trading Down 3.6%

Shares of MNKD opened at $3.76 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 37.60 and a beta of 0.96. The company has a 50-day moving average of $4.02 and a two-hundred day moving average of $4.88. MannKind has a 12-month low of $3.51 and a 12-month high of $7.63.

MannKind (NASDAQ:MNKD) last announced 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. The company had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. MannKind had a net margin of 10.12% and a negative return on equity of 32.41%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. As a group, analysts forecast that MannKind will post 0.1 EPS for the current fiscal year.

Insider Transactions at MannKind

In related news, EVP David Thomson sold 32,179 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the sale, the executive vice president directly owned 772,427 shares in the company, valued at approximately $3,614,958.36. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven B. Binder sold 75,367 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 830,508 shares of the company’s stock, valued at approximately $3,272,201.52. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,198 shares of company stock valued at $1,143,244. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On MannKind

A number of institutional investors have recently bought and sold shares of the stock. Palumbo Wealth Management LLC grew its holdings in MannKind by 4.0% in the second quarter. Palumbo Wealth Management LLC now owns 101,438 shares of the biopharmaceutical company’s stock valued at $379,000 after purchasing an additional 3,921 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in MannKind in the second quarter valued at approximately $51,000. Farther Finance Advisors LLC grew its stake 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 buying an additional 6,896 shares during the period. Towerpoint Wealth LLC purchased a new stake in MannKind during the second quarter worth approximately $91,000. Finally, Aaron Wealth Advisors LLC grew its stake in MannKind by 14.0% during the second quarter. Aaron Wealth Advisors LLC now owns 200,450 shares of the biopharmaceutical company’s stock worth $750,000 after buying an additional 24,693 shares during the period. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

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.