MannKind (NASDAQ:MNKD) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of MannKind (NASDAQ:MNKD) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $10.00 target price on the biopharmaceutical company’s stock.

MNKD has been the topic of several other research reports. Leerink Partners started coverage on shares of MannKind in a research report on Friday, October 10th. They set an “outperform” rating and a $9.00 price target on the stock. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Oppenheimer increased their price target on shares of MannKind from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Royal Bank Of Canada increased their price target on shares of MannKind from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, MannKind presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.86.

MannKind Trading Up 0.4%

Shares of MannKind stock opened at $5.49 on Monday. The company has a fifty day moving average price of $5.01 and a 200 day moving average price of $4.47. MannKind has a twelve month low of $3.38 and a twelve month high of $7.63. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 49.91 and a beta of 1.08.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The firm had revenue of $76.53 million during the quarter, compared to analysts’ expectations of $77.82 million. During the same period in the prior year, the company earned $0.05 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. Analysts forecast that MannKind will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $5.34, for a total transaction of $250,980.00. Following the sale, the insider owned 1,032,013 shares in the company, valued at $5,510,949.42. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently bought and sold shares of the business. Quaker Wealth Management LLC raised its stake in MannKind by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 14,000 shares during the period. Farther Finance Advisors LLC increased its stake in shares of MannKind by 1,379.2% in the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 6,896 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of MannKind in the second quarter valued at approximately $42,000. Master S Wealth Management Inc. acquired a new stake in shares of MannKind in the second quarter valued at approximately $44,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of MannKind in the first quarter valued at approximately $51,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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.