MannKind Corporation (NASDAQ:MNKD) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of MannKind Corporation (NASDAQ:MNKD) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.33.

A number of equities analysts have weighed in on MNKD shares. Chardan Capital started coverage on MannKind in a research report on Monday, October 19th. They issued a “buy” rating and a $10.00 target price for the company. Wells Fargo & Company dropped their price target on shares of MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Wall Street Zen upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Finally, Cantor Fitzgerald boosted their price objective on shares of MannKind from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, November 6th.

MannKind Price Performance

MNKD stock opened at $4.23 on Friday. MannKind has a 1-year low of $2.23 and a 1-year high of $6.51. The business has a fifty day moving average price of $3.56 and a 200-day moving average price of $3.70. The stock has a market capitalization of $1.36 billion, a P/E ratio of -18.39 and a beta of 1.10.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $101.87 million for the quarter, compared to the consensus estimate of $107.74 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, analysts anticipate that MannKind will post -0.20 earnings per share for the current year.

Insider Transactions at MannKind

In other MannKind news, Director Steven Binder sold 39,051 shares of MannKind stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $3.29, for a total value of $128,477.79. Following the completion of the sale, the director owned 713,258 shares of the company’s stock, valued at approximately $2,346,618.82. The trade was a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MannKind

Several hedge funds and other institutional investors have recently modified their holdings of MNKD. Wellington Management Group LLP grew its holdings in shares of MannKind by 138.9% in the second quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock worth $33,419,000 after acquiring an additional 4,561,628 shares during the period. Frazier Life Sciences Management L.P. increased its position in MannKind by 11.9% during 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 acquiring an additional 700,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in MannKind by 11.5% in 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 acquiring an additional 509,692 shares during the period. 180 Wealth Advisors LLC lifted its holdings in MannKind by 45.0% in the first quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after acquiring an additional 1,332,759 shares during the period. Finally, TSP Capital Management Group LLC lifted its holdings in 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 valued at $16,304,000 after acquiring an additional 207,850 shares during the period. 49.55% of the stock is owned by 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. 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).