MannKind (NASDAQ:MNKD) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of MannKind Corporation (NASDAQ:MNKD) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.17 and traded as high as $6.03. MannKind shares last traded at $6.01, with a volume of 4,615,853 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their price objective on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of MannKind in a research note on Monday, January 26th. Leerink Partners started 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. Wells Fargo & Company decreased their target price on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of MannKind from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MannKind presently has an average rating of “Buy” and a consensus target price of $10.06.

MannKind Price Performance

The company’s fifty day moving average price is $5.70 and its 200 day moving average price is $5.17. The company has a market cap of $1.85 billion, a PE ratio of 60.10 and a beta of 0.84.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $82.13 million for the quarter, compared to analysts’ expectations of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, analysts forecast that MannKind Corporation will post 0.1 EPS for the current year.

Insider Activity at MannKind

In other MannKind news, EVP Sanjay R. Singh sold 18,777 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the completion of the transaction, the executive vice president owned 455,211 shares in the company, valued at $2,289,711.33. This represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Castagna sold 65,804 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $6.01, for a total value of $395,482.04. Following the sale, the chief executive officer directly owned 2,504,792 shares of the company’s stock, valued at approximately $15,053,799.92. This represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 281,623 shares of company stock valued at $1,641,289. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On MannKind

Several institutional investors have recently added to or reduced their stakes in the stock. Quaker Wealth Management LLC lifted its stake in MannKind by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 14,000 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of MannKind by 1,379.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 6,896 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in MannKind in the 2nd quarter worth about $42,000. Master S Wealth Management Inc. bought a new stake in MannKind in the 2nd quarter valued at about $44,000. Finally, Burkett Financial Services LLC purchased a new stake in MannKind during the fourth quarter valued at about $59,000. Institutional investors own 49.55% of the company’s stock.

About MannKind

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.