MannKind’s (MNKD) Buy Rating Reiterated at HC Wainwright

MannKind (NASDAQ:MNKD)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $11.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 100.18% from the company’s current price.

A number of other brokerages have also recently issued reports on MNKD. Truist Financial set a $9.00 target price on shares of MannKind in a report on Monday, November 24th. Wells Fargo & Company decreased their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada dropped their price target on shares of MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded MannKind from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, MannKind presently has a consensus rating of “Buy” and an average target price of $10.06.

MannKind Stock Performance

Shares of MannKind stock traded up $0.04 during trading on Monday, reaching $5.50. The company had a trading volume of 839,164 shares, compared to its average volume of 4,007,044. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 54.91 and a beta of 0.81. The firm’s fifty day moving average is $5.61 and its 200-day moving average is $5.09. MannKind has a fifty-two week low of $3.38 and a fifty-two week high of $6.51.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business 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% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, research analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at MannKind

In other news, EVP Sanjay R. Singh sold 18,777 shares of MannKind stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $5.03, for a total transaction of $94,448.31. Following the completion of the sale, the executive vice president directly owned 455,211 shares in the company, valued at $2,289,711.33. The trade was a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart A. Tross sold 47,006 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.33, for a total transaction of $297,547.98. Following the completion of the sale, the insider directly owned 985,007 shares of the company’s stock, valued at $6,235,094.31. This represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 281,623 shares of company stock worth $1,641,289. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of MannKind during the 4th quarter worth about $74,000. Hunter Associates Investment Management LLC increased its position in MannKind by 7.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 68,700 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 5,000 shares during the period. Aaron Wealth Advisors LLC raised its stake in MannKind by 1.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 200,763 shares of the biopharmaceutical company’s stock valued at $1,138,000 after purchasing an additional 2,355 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of MannKind by 79.6% during the 4th quarter. SG Americas Securities LLC now owns 143,592 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 63,657 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in shares of MannKind by 3.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 2,958,944 shares of the biopharmaceutical company’s stock valued at $16,777,000 after buying an additional 86,658 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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.