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

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

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a report on Wednesday, October 8th. Leerink Partners initiated coverage on MannKind in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price on the stock. Royal Bank Of Canada cut their target price on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, HC Wainwright reiterated a “buy” rating on shares of MannKind in a research report on Thursday.

Insider Transactions at MannKind

In other news, insider Stuart A. Tross sold 47,006 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $6.33, for a total value of $297,547.98. Following the completion of the transaction, the insider owned 985,007 shares in the company, valued at $6,235,094.31. This trade represents a 4.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Castagna sold 107,920 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total transaction of $601,114.40. Following the completion of the sale, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at $13,951,691.44. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 281,623 shares of company stock valued at $1,641,289 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MannKind

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $1,059,000 after purchasing an additional 6,079 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 valued at $3,374,000 after purchasing an additional 53,202 shares during the period. Rhumbline Advisers grew its stake in MannKind by 4.4% during the 1st quarter. Rhumbline Advisers now owns 399,033 shares of the biopharmaceutical company’s stock worth $2,007,000 after buying an additional 16,807 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in MannKind by 14.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 200,450 shares of the biopharmaceutical company’s stock worth $750,000 after buying an additional 24,693 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Trading Down 1.4%

NASDAQ:MNKD opened at $5.77 on Friday. MannKind has a 12-month low of $3.38 and a 12-month high of $6.51. The stock’s 50 day simple moving average is $5.60 and its 200-day simple moving average is $4.97. The firm has a market cap of $1.77 billion, a P/E ratio of 57.70 and a beta of 0.81.

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

MannKind Company Profile

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.