MannKind’s (MNKD) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of MannKind (NASDAQ:MNKD) in a research report released on Monday,Benzinga reports. They currently have a $11.00 target price on the biopharmaceutical company’s stock.

MNKD has been the topic of a number of other research reports. Truist Financial set a $9.00 target price on shares of MannKind in a research note on Monday, November 24th. Zacks Research raised MannKind from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada decreased their price objective on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research note on Thursday. Finally, Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $10.06.

MannKind Price Performance

Shares of MannKind stock opened at $5.58 on Monday. MannKind has a 1-year low of $3.38 and a 1-year high of $6.51. The company has a market capitalization of $1.71 billion, a PE ratio of 55.80 and a beta of 0.81. The business has a 50-day moving average of $5.63 and a 200-day moving average of $5.10.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The firm had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. MannKind’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities analysts expect that MannKind will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at MannKind

In other MannKind news, CEO Michael Castagna sold 65,804 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $6.01, for a total value of $395,482.04. Following the completion of the transaction, the chief executive officer directly owned 2,504,792 shares in the company, valued at $15,053,799.92. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stuart A. Tross sold 47,006 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $6.33, for a total transaction of $297,547.98. Following the completion of the transaction, the insider owned 985,007 shares of the company’s stock, valued at approximately $6,235,094.31. The trade was a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 281,623 shares of company stock valued at $1,641,289. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MannKind

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNKD. Calamos Advisors LLC acquired a new position in MannKind in the 3rd quarter valued at approximately $1,240,000. Los Angeles Capital Management LLC boosted its position in MannKind by 68.3% during the second quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock valued at $1,636,000 after purchasing an additional 177,440 shares during the last quarter. Geode Capital Management LLC grew its stake in MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock valued at $28,494,000 after purchasing an additional 831,478 shares in the last quarter. 180 Wealth Advisors LLC increased its position in MannKind by 11.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company’s stock worth $15,424,000 after purchasing an additional 290,276 shares during the last quarter. Finally, TSP Capital Management Group LLC increased its position in MannKind by 7.2% in the 2nd quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock worth $11,155,000 after purchasing an additional 201,225 shares during the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Company Profile

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.