MannKind Co. (NASDAQ:MNKD) Receives $9.56 Consensus Target Price from Analysts

MannKind Co. (NASDAQ:MNKD) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.00.

MNKD has been the subject of several research analyst reports. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Finally, Mizuho assumed coverage on shares of MannKind in a report on Thursday, April 10th. They set an “outperform” rating and a $12.00 price objective on the stock.

MannKind Trading Down 1.5%

Shares of MNKD stock opened at $4.56 on Monday. MannKind has a 12-month low of $4.28 and a 12-month high of $7.63. The business’s fifty day simple moving average is $4.89 and its 200-day simple moving average is $5.82. The company has a market cap of $1.39 billion, a PE ratio of 65.14 and a beta of 1.14.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. On average, equities analysts forecast that MannKind will post 0.1 earnings per share for the current year.

Institutional Trading of MannKind

Several large investors have recently made changes to their positions in MNKD. GF Fund Management CO. LTD. acquired a new position in MannKind during the fourth quarter valued at $37,000. Jones Financial Companies Lllp grew its position in MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 6,392 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of MannKind during the 1st quarter valued at about $51,000. Sowell Financial Services LLC acquired a new position in shares of MannKind in the 1st quarter valued at about $56,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of MannKind in the fourth quarter worth about $65,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

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.