MannKind Co. (NASDAQ:MNKD) Given Consensus Rating of “Buy” by Analysts

Shares of MannKind Co. (NASDAQ:MNKD) have received an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.67.

A number of brokerages have recently issued reports on MNKD. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Oppenheimer increased their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Leerink Partners assumed coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price on the stock.

MannKind Trading Down 2.3 %

Shares of NASDAQ:MNKD opened at $6.49 on Thursday. MannKind has a twelve month low of $3.17 and a twelve month high of $6.92. The company’s 50 day moving average is $6.18 and its 200 day moving average is $5.34. The company has a market cap of $1.77 billion, a PE ratio of 216.33 and a beta of 1.31.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The business had revenue of $72.39 million for the quarter, compared to analyst estimates of $64.81 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The business’s quarterly revenue was up 48.9% compared to the same quarter last year. Equities research analysts predict that MannKind will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at MannKind

In other MannKind news, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total value of $536,167.80. Following the completion of the sale, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MannKind news, insider Stuart A. Tross sold 80,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.33, for a total value of $506,400.00. Following the completion of the sale, the insider now directly owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total value of $536,167.80. Following the completion of the sale, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,161 shares of company stock worth $1,229,095. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,816 shares during the last quarter. AQR Capital Management LLC increased its position in shares of MannKind by 8.1% during the 2nd quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 3,214 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MannKind by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock worth $529,000 after purchasing an additional 3,374 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of MannKind by 6.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 3,861 shares during the last quarter. Finally, Mission Wealth Management LP increased its position in shares of MannKind by 18.2% during the 1st quarter. Mission Wealth Management LP now owns 26,650 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 4,100 shares during the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

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.