MannKind Corporation (NASDAQ:MNKD) Receives $9.22 Average PT from Brokerages

Shares of MannKind Corporation (NASDAQ:MNKD) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on 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 research analysts have recently issued reports on the stock. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a research report on Wednesday, July 8th. Royal Bank Of Canada lifted their target price on MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

MannKind Trading Down 0.7%

Shares of MNKD stock opened at $4.06 on Friday. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The firm’s fifty day simple moving average is $4.04 and its 200 day simple moving average is $3.60. The firm has a market capitalization of $1.31 billion, a P/E ratio of -31.23 and a beta of 1.12.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The firm had revenue of $109.37 million during the quarter, compared to analysts’ expectations of $108.08 million. During the same period in the prior year, the company earned $0.05 EPS. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. Equities research analysts anticipate that MannKind will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 39,051 shares of MannKind stock in a transaction that occurred 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 sale, the director owned 785,867 shares of the company’s stock, valued at approximately $3,190,620.02. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Krilogy Financial LLC bought a new position in MannKind in the first quarter worth $28,000. Independent Financial Group LLC bought a new stake in MannKind in the 1st quarter valued at $31,000. Caitong International Asset Management Co. Ltd increased its holdings in MannKind by 108.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 2,927 shares during the period. Waverly Advisors LLC acquired a new position in shares of MannKind in the 1st quarter valued at $43,000. Finally, International Assets Investment Management LLC acquired a new position in shares of MannKind in the 4th quarter valued at $45,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

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).