MannKind Corporation (NASDAQ:MNKD) Receives $8.97 Average PT from Brokerages

Shares of MannKind Corporation (NASDAQ:MNKD) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $8.9688.

Several analysts have recently weighed in on MNKD shares. Weiss Ratings cut MannKind from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Wells Fargo & Company set a $11.00 price target on MannKind and gave the stock an “overweight” rating in a report on Monday, June 1st. Mizuho reduced their price target on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Wall Street Zen upgraded MannKind from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Royal Bank Of Canada boosted their price target on MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a report on Thursday, May 7th.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 16,940 shares of the business’s 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 sale, the director directly owned 808,008 shares in the company, valued at approximately $2,658,346.32. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.60% of the company’s stock.

Institutional Trading of MannKind

Several institutional investors have recently added to or reduced their stakes in MNKD. AQR Capital Management LLC boosted its holdings in MannKind by 19.8% in the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 9,160 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MannKind by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock valued at $1,059,000 after acquiring an additional 6,079 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MannKind by 8.6% during 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 worth $3,374,000 after acquiring an additional 53,202 shares during the period. JPMorgan Chase & Co. raised its position 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 worth $5,057,000 after acquiring an additional 404,842 shares in the last quarter. Finally, Prudential Financial Inc. raised its position 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 worth $140,000 after acquiring an additional 17,150 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

MannKind Stock Up 9.3%

MannKind stock opened at $4.00 on Tuesday. MannKind has a 12-month low of $2.23 and a 12-month high of $6.51. The business’s 50-day moving average price is $3.13 and its two-hundred day moving average price is $4.22. The stock has a market cap of $1.24 billion, a PE ratio of -57.13 and a beta of 1.13.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $90.17 million during the quarter, compared to the consensus estimate of $105.38 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business’s revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that MannKind will post -0.06 earnings per share for the current year.

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. 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).