MannKind Corporation (NASDAQ:MNKD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MannKind Corporation (NASDAQ:MNKD) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $9.2188.

Several brokerages have weighed in on MNKD. Royal Bank Of Canada upped their target price on shares of MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Wells Fargo & Company decreased their price target on MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Mizuho lowered 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 downgraded MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 39,051 shares of MannKind stock in a transaction on Friday, August 7th. The stock was sold at an average price of $4.06, for a total transaction of $158,547.06. Following the completion of the transaction, the director owned 785,867 shares of the company’s stock, valued at $3,190,620.02. The trade was a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MannKind

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new position in MannKind during the 2nd quarter valued at about $47,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in MannKind during the second quarter worth about $82,000. California State Teachers Retirement System lifted its holdings in shares of MannKind by 315.4% in the second quarter. California State Teachers Retirement System now owns 1,577,193 shares of the biopharmaceutical company’s stock valued at $6,719,000 after purchasing an additional 1,197,481 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of MannKind by 11.9% in the second quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock valued at $28,116,000 after purchasing an additional 700,000 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of MannKind in the second quarter valued at approximately $70,000. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Stock Performance

Shares of NASDAQ MNKD opened at $3.95 on Friday. MannKind has a one year low of $2.23 and a one year high of $6.51. The firm has a market capitalization of $1.27 billion, a P/E ratio of -30.38 and a beta of 1.12. The company’s fifty day moving average is $4.04 and its two-hundred day moving average is $3.60.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The business had revenue of $109.37 million during the quarter, compared to the consensus estimate of $108.08 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was up 43.0% compared to the same quarter last year. On average, sell-side analysts forecast that MannKind will post -0.2 earnings per share for the current fiscal year.

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).