MannKind Corporation (NASDAQ:MNKD) Receives Average Rating of “Buy” from Brokerages

MannKind Corporation (NASDAQ:MNKD) has earned an average rating of “Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.0625.

Several equities research analysts have issued reports on MNKD shares. Truist Financial set a $9.00 price objective on shares of MannKind in a research report on Monday, November 24th. Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research raised MannKind from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Wells Fargo & Company dropped their price target on MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, 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.

MannKind Price Performance

MannKind stock opened at $6.21 on Wednesday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 62.10 and a beta of 0.84. MannKind has a 1-year low of $3.38 and a 1-year high of $6.51. The company’s 50-day moving average is $5.72 and its 200 day moving average is $5.19.

MannKind (NASDAQ:MNKD) last released its 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 for the quarter, compared to analysts’ expectations of $80.47 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Research analysts anticipate that MannKind will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at MannKind

In other news, insider Stuart A. Tross sold 47,006 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $6.33, for a total value of $297,547.98. Following the completion of the sale, the insider owned 985,007 shares in the company, valued at approximately $6,235,094.31. The trade was a 4.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $5.03, for a total transaction of $94,448.31. Following the transaction, the executive vice president owned 455,211 shares in the company, valued at approximately $2,289,711.33. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 281,623 shares of company stock valued at $1,641,289. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quaker Wealth Management LLC boosted its position in MannKind by 200.0% during 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 in the last quarter. Farther Finance Advisors LLC lifted its position in shares of MannKind by 1,379.2% during the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,896 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of MannKind in the 2nd quarter valued at about $42,000. Master S Wealth Management Inc. purchased a new position in shares of MannKind in the 2nd quarter worth approximately $44,000. Finally, International Assets Investment Management LLC bought a new position in shares of MannKind during the 4th quarter worth approximately $45,000. 49.55% of the stock is owned by 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.