MannKind Corporation (MNKD) – What Are Researchers Thinking About This Stock?

Shares of MannKind Corporation (NASDAQ:MNKD) have received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.84.

A number of brokerages have issued reports on MNKD. Truist Financial reduced their price objective on MannKind from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of MannKind in a research note on Friday, October 2nd. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wells Fargo & Company lowered their price objective on MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of MannKind in a report on Friday, September 11th.

MannKind Price Performance

MNKD opened at $3.04 on Monday. The company has a market capitalization of $977.48 million, a price-to-earnings ratio of -23.38 and a beta of 1.09. The firm’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.58. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $109.37 million for the quarter, compared to the consensus estimate of $108.08 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, equities analysts anticipate that MannKind will post -0.20 EPS for the current year.

Insider Activity at MannKind

In other news, Director Steven 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 value of $158,547.06. Following the completion of the transaction, the director directly owned 785,867 shares in the company, valued at approximately $3,190,620.02. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 111,660 shares of company stock valued at $414,881 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of MannKind by 138.9% during the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock valued at $33,419,000 after acquiring an additional 4,561,628 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position 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 worth $28,116,000 after purchasing an additional 700,000 shares during the last quarter. TSP Capital Management Group LLC increased its position in shares of MannKind by 5.2% in the third quarter. TSP Capital Management Group LLC now owns 4,180,525 shares of the biopharmaceutical company’s stock worth $16,304,000 after purchasing an additional 207,850 shares during the last quarter. Braidwell LP purchased a new stake in MannKind in the second quarter valued at approximately $14,733,000. Finally, Dimensional Fund Advisors LP lifted its position in MannKind by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock valued at $12,134,000 after purchasing an additional 509,692 shares during the last quarter. Institutional investors own 49.55% of the company’s stock.

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).