MannKind Corporation (NASDAQ:MNKD) Stock Has Consensus Price Target of $8.08 According to Brokerages

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

A number of equities analysts have recently issued reports on MNKD shares. HC Wainwright reissued a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd. Wells Fargo & Company decreased their target price on MannKind from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada increased their price target on MannKind from $4.75 to $5.00 and gave the stock a “sector perform” rating in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a research note on Friday, October 2nd. Finally, Truist Financial reduced their price objective on MannKind from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th.

Key Headlines Impacting MannKind

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: Analysts raised price targets. Cantor Fitzgerald lifted its target to $10 from $8 and maintained an “overweight” rating. RBC raised its target to $5 from $4.75, while keeping a “sector perform” rating. Cantor Fitzgerald analyst information RBC price target report
• Positive Sentiment: Longer-term revenue and profitability outlook. MannKind expects its United Therapeutics agreement to generate about $1 billion in revenue from 2027 through 2030, and is targeting profitability in the fourth quarter. United Therapeutics deal and profitability outlook
• Neutral Sentiment: Quarterly results were mixed. MannKind’s revenue rose 24% year over year to $101.87 million, and its reported loss per share was narrower than the consensus estimate. MannKind third-quarter results
• Negative Sentiment: Revenue missed expectations, and the company remained loss-making. Sales of $101.87 million were below analysts’ $107.74 million estimate, while EPS was down from a profit in the year-ago quarter. Q3 loss and revenue miss

Insider Buying and Selling at MannKind

In related news, Director Steven Binder sold 39,051 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $3.29, for a total value of $128,477.79. Following the transaction, the director directly owned 713,258 shares in the company, valued at $2,346,618.82. This trade represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by insiders.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Independent Financial Group LLC bought a new position in shares of MannKind in the first quarter valued at $31,000. AdvisorNet Financial Inc acquired a new position in shares of MannKind during the third quarter valued at about $39,000. Sterling Capital Management LLC grew its holdings in shares of MannKind by 864.1% during the third quarter. Sterling Capital Management LLC now owns 10,422 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 9,341 shares during the last quarter. Waverly Advisors LLC acquired a new position in shares of MannKind during the first quarter valued at about $43,000. Finally, Corient Private Wealth LP bought a new stake in shares of MannKind during the second quarter worth about $47,000. Institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

NASDAQ:MNKD opened at $3.90 on Friday. MannKind has a twelve month low of $2.23 and a twelve month high of $6.51. The company has a fifty day moving average of $3.55 and a 200-day moving average of $3.71. The firm has a market capitalization of $1.25 billion, a P/E ratio of -16.96 and a beta of 1.10.

MannKind (NASDAQ:MNKD) last issued its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.05. The company had revenue of $101.87 million for the quarter, compared to the consensus estimate of $107.74 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, analysts anticipate that MannKind will post -0.21 EPS for the current fiscal year.

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).