MannKind Corporation (NASDAQ:MNKD) Receives $8.97 Consensus PT from Analysts

MannKind Corporation (NASDAQ:MNKD) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.9688.

Several research analysts have commented on MNKD shares. Wall Street Zen raised MannKind from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Royal Bank Of Canada lifted their target price on MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. HC Wainwright lifted their target price on MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wedbush cut their target price on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th.

MannKind Stock Down 2.4%

NASDAQ MNKD opened at $3.66 on Tuesday. MannKind has a twelve month low of $2.23 and a twelve month high of $6.51. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -52.28 and a beta of 1.13. The business’s fifty day moving average is $3.10 and its 200 day moving average is $4.24.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The firm had revenue of $90.17 million for the quarter, compared to analyst estimates of $105.38 million. During the same period last year, the business earned $0.04 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that MannKind will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MannKind news, Director Steven B. Binder sold 16,940 shares of MannKind stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total transaction of $55,732.60. Following the transaction, the director directly owned 808,008 shares of the company’s stock, valued at approximately $2,658,346.32. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MNKD. AQR Capital Management LLC lifted its holdings in MannKind by 19.8% during the 1st quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 9,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MannKind by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock valued at $1,059,000 after purchasing an additional 6,079 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of MannKind by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock valued at $3,374,000 after purchasing an additional 53,202 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MannKind by 42.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,352,017 shares of the biopharmaceutical company’s stock valued at $5,057,000 after purchasing an additional 404,842 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of MannKind by 84.8% in the 2nd quarter. Prudential Financial Inc. now owns 37,381 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 17,150 shares during the period. 49.55% of the stock is owned by institutional investors and hedge funds.

About MannKind

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).