Brokerages Set MannKind Corporation (NASDAQ:MNKD) PT at $10.06

MannKind Corporation (NASDAQ:MNKD) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.0625.

Several equities analysts recently issued reports on MNKD shares. Leerink Partners started coverage on shares of MannKind in a report on Thursday, November 13th. They issued an “outperform” rating and a $7.00 target price on the stock. Royal Bank Of Canada lowered their price objective on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Truist Financial set a $9.00 target price on MannKind in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th.

MannKind Price Performance

Shares of MNKD stock opened at $5.99 on Tuesday. The stock has a market capitalization of $1.84 billion, a PE ratio of 59.90 and a beta of 0.82. The business’s 50 day simple moving average is $5.49 and its 200 day simple moving average is $4.77. MannKind has a one year low of $3.38 and a one year high of $7.04.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The firm had revenue of $82.13 million for the quarter, compared to the consensus estimate of $80.47 million. During the same quarter in the previous year, the company earned $0.04 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, research analysts expect that MannKind will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other MannKind news, CEO Michael Castagna sold 107,920 shares of MannKind stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total value of $601,114.40. Following the completion of the sale, the chief executive officer directly owned 2,504,792 shares of the company’s stock, valued at approximately $13,951,691.44. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of the company’s stock in a transaction dated 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 $2,289,711.33. This represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 234,617 shares of company stock worth $1,343,741 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. Quaker Wealth Management LLC boosted its holdings in MannKind by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 14,000 shares in the last quarter. Farther Finance Advisors LLC raised 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 worth $28,000 after purchasing an additional 6,896 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of MannKind during the second quarter worth approximately $42,000. Master S Wealth Management Inc. bought a new position in shares of MannKind in the 2nd quarter worth $44,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in MannKind in the 3rd quarter valued at $72,000. 49.55% of the stock is owned by institutional investors.

About MannKind

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.