MannKind (NASDAQ:MNKD) Upgraded at Zacks Research

Zacks Research upgraded shares of MannKind (NASDAQ:MNKD) from a strong sell rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of MannKind in a research report on Wednesday, February 25th. Weiss Ratings downgraded shares of MannKind from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Wells Fargo & Company cut their price target on shares of MannKind from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Wedbush reduced their price target on shares of MannKind from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $3.50 price objective (down from $7.50) on shares of MannKind in a research note on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MannKind presently has an average rating of “Moderate Buy” and an average target price of $8.56.

MannKind Trading Up 3.3%

Shares of NASDAQ:MNKD opened at $2.84 on Wednesday. MannKind has a 52 week low of $2.23 and a 52 week high of $6.51. The company’s 50 day moving average is $3.39 and its two-hundred day moving average is $4.80. The company has a market cap of $876.99 million, a PE ratio of 142.07 and a beta of 1.04.

MannKind (NASDAQ:MNKD) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $111.96 million for the quarter, compared to analyst estimates of $99.85 million. MannKind had a negative return on equity of 11.21% and a net margin of 1.68%.MannKind’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. As a group, equities research analysts expect that MannKind will post 0.1 EPS for the current year.

Insider Activity

In other MannKind news, CEO Michael Castagna bought 100,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $2.59 per share, with a total value of $259,000.00. Following the acquisition, the chief executive officer directly owned 2,575,911 shares of the company’s stock, valued at $6,671,609.49. The trade was a 4.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Institutional Trading of MannKind

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its stake in MannKind by 108.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 2,927 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of MannKind during the fourth quarter worth about $45,000. Huntington National Bank grew its holdings in shares of MannKind by 420.0% during the fourth quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 8,400 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of MannKind during the fourth quarter worth about $59,000. Finally, Laurel Wealth Advisors LLC acquired a new position in MannKind in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.