MannKind (NASDAQ:MNKD) Now Covered by Truist Financial

Truist Financial started coverage on shares of MannKind (NASDAQ:MNKD) in a report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $9.00 price objective on the biopharmaceutical company’s stock.

MNKD has been the subject of a number of other research reports. Wells Fargo & Company dropped their price target on MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Oppenheimer raised their target price on shares of MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a report on Wednesday, October 8th. Leerink Partners began coverage on shares of MannKind in a research note on Thursday, November 13th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.06.

MannKind Stock Up 2.0%

Shares of NASDAQ:MNKD opened at $5.13 on Monday. MannKind has a 12-month low of $3.38 and a 12-month high of $7.07. The company’s 50 day moving average price is $5.37 and its two-hundred day moving average price is $4.58. The firm has a market cap of $1.58 billion, a PE ratio of 46.64 and a beta of 1.11.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The business had revenue of $82.13 million during the quarter, compared to analysts’ expectations of $80.47 million. During the same period in the previous year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, research analysts expect that MannKind will post 0.1 EPS for the current year.

Insider Activity

In other news, EVP Sanjay R. Singh sold 18,777 shares of MannKind stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $5.03, for a total transaction of $94,448.31. Following the sale, the executive vice president directly owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stuart A. Tross sold 47,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $5.34, for a total value of $250,980.00. Following the sale, the insider owned 1,032,013 shares in the company, valued at approximately $5,510,949.42. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MannKind

A number of hedge funds have recently modified their holdings of MNKD. Los Angeles Capital Management LLC raised its position in MannKind by 68.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock worth $1,636,000 after purchasing an additional 177,440 shares during the last quarter. TSP Capital Management Group LLC increased its stake in shares of MannKind by 7.2% in the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock valued at $11,155,000 after buying an additional 201,225 shares during the period. Simon Quick Advisors LLC acquired a new stake in shares of MannKind in the second quarter valued at about $180,000. Jacobs Levy Equity Management Inc. raised its position in shares of MannKind by 5.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,029,319 shares of the biopharmaceutical company’s stock worth $10,207,000 after acquiring an additional 110,945 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of MannKind by 5,387.1% in the second quarter. SBI Securities Co. Ltd. now owns 66,394 shares of the biopharmaceutical company’s stock worth $248,000 after acquiring an additional 65,184 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.