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

Shares of MannKind Corporation (NASDAQ:MNKD) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.3438.

MNKD has been the subject of several research analyst reports. Zacks Research lowered MannKind from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Wall Street Zen lowered shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research note on Wednesday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of MannKind in a report on Friday, September 11th. Finally, HC Wainwright reissued a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd.

Insider Buying and Selling

In related news, Director Steven Binder sold 33,558 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $3.81, for a total value of $127,855.98. Following the completion of the transaction, the director directly owned 752,309 shares of the company’s stock, valued at approximately $2,866,297.29. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MannKind

A number of institutional investors have recently modified their holdings of MNKD. Sequoia Financial Advisors LLC boosted its position in shares of MannKind by 41.6% during the second quarter. Sequoia Financial Advisors LLC now owns 69,703 shares of the biopharmaceutical company’s stock worth $297,000 after buying an additional 20,480 shares during the period. WINTON GROUP Ltd bought a new position in shares of MannKind during the second quarter worth about $197,000. Integrated Wealth Concepts LLC acquired a new stake in MannKind in the 2nd quarter valued at approximately $78,000. Squarepoint Ops LLC acquired a new stake in MannKind in the 2nd quarter valued at approximately $1,760,000. Finally, Allworth Financial LP lifted its stake in MannKind by 2,013.4% in the 2nd quarter. Allworth Financial LP now owns 11,074 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 10,550 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

MannKind Trading Down 1.1%

MNKD stock opened at $3.50 on Thursday. The business’s 50-day moving average price is $3.94 and its two-hundred day moving average price is $3.47. The firm has a market cap of $1.13 billion, a PE ratio of -26.92 and a beta of 1.10. MannKind has a 1-year low of $2.23 and a 1-year high of $6.51.

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, hitting the consensus estimate of ($0.01). The company had revenue of $109.37 million during the quarter, compared to the consensus estimate of $108.08 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 11.08%.The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. On average, analysts forecast that MannKind will post -0.2 earnings per share for the current 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).