Royal Bank Of Canada Increases MannKind (NASDAQ:MNKD) Price Target to $4.75

MannKind (NASDAQ:MNKD) had its price target raised by investment analysts at Royal Bank Of Canada from $3.50 to $4.75 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 34.94% from the stock’s previous close.

MNKD has been the subject of several other research reports. Mizuho dropped their price target on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Wall Street Zen lowered shares of MannKind from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright boosted their price objective on shares of MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of MannKind from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.84.

MannKind Stock Performance

Shares of MNKD stock opened at $3.52 on Thursday. MannKind has a one year low of $2.23 and a one year high of $6.51. The company has a 50 day moving average price of $2.73 and a 200 day moving average price of $4.59. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -50.28 and a beta of 1.04.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The company had revenue of $90.17 million for the quarter, compared to analyst estimates of $105.38 million. During the same period last year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that MannKind will post -0.02 EPS for the current fiscal year.

Insider Transactions at MannKind

In other MannKind news, CEO Michael Castagna acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $259,000.00. Following the completion of the purchase, the chief executive officer directly owned 2,575,911 shares in the company, valued at $6,671,609.49. This represents a 4.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MannKind

Institutional investors and hedge funds have recently modified their holdings of the business. Krilogy Financial LLC acquired a new stake in shares of MannKind during the first quarter worth $28,000. Independent Financial Group LLC acquired a new stake in shares of MannKind during the first quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 2,927 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of MannKind during the fourth quarter worth $45,000. Finally, Discipline Wealth Solutions LLC acquired a new stake in shares of MannKind during the first quarter worth $45,000. 49.55% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting MannKind

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: MannKind said it is targeting $110 million to $120 million in 2026 FUROSCIX revenue, which suggests management sees continued commercial growth ahead as key regulatory catalysts approach. Article Title
• Positive Sentiment: RBC raised its price target on MannKind to $4.75 from $3.50, indicating some analysts still see upside despite near-term earnings volatility.
• Neutral Sentiment: TipRanks highlighted that MannKind’s earnings call focused on growth initiatives and navigating earnings volatility, reinforcing that the investment case is now being driven more by future execution than the recent quarter. Article Title
• Neutral Sentiment: MannKind’s Q1 earnings presentation and earnings snapshot provided additional detail on results, but did not change the core takeaway that the quarter was softer than expected. Article Title Article Title
• Negative Sentiment: MannKind reported a Q1 loss of $0.05 per share, wider than the expected $0.02 loss, and revenue of $90.17 million came in below consensus, prompting a negative reaction in the stock. Article Title
• Negative Sentiment: Mizuho cut its price target to $7.00 from $8.00, reflecting some caution ahead of upcoming regulatory and commercial milestones. Article Title

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).