MannKind (NASDAQ:MNKD) PT Raised to $12.00

MannKind (NASDAQ:MNKD) had its target price raised by stock analysts at Oppenheimer from $10.00 to $12.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price objective indicates a potential upside of 89.57% from the company’s previous close.

A number of other research analysts have also issued reports on MNKD. Cantor Fitzgerald restated an “overweight” rating and set a $6.50 price objective on shares of MannKind in a research report on Thursday, May 9th. Rodman & Renshaw started coverage on MannKind in a research report on Thursday, June 13th. They set a “buy” rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, MannKind presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

MannKind Trading Up 7.3 %

Shares of NASDAQ MNKD opened at $6.33 on Wednesday. MannKind has a twelve month low of $3.17 and a twelve month high of $6.44. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 211.00 and a beta of 1.32. The business has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $4.77.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MannKind had a negative return on equity of 3.35% and a net margin of 3.78%. The business had revenue of $72.39 million during the quarter, compared to analyst estimates of $64.81 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was up 48.9% compared to the same quarter last year. As a group, equities analysts predict that MannKind will post 0.1 earnings per share for the current year.

Insider Activity

In other news, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the sale, the executive vice president now directly owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the sale, the executive vice president now directly owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Castagna sold 85,106 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total value of $536,167.80. Following the transaction, the chief executive officer now directly owns 2,294,836 shares in the company, valued at $14,457,466.80. The disclosure for this sale can be found here. Insiders sold a total of 92,997 shares of company stock worth $583,012 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in MannKind in the 1st quarter worth about $450,000. Parkman Healthcare Partners LLC boosted its stake in shares of MannKind by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 2,498,624 shares of the biopharmaceutical company’s stock worth $9,095,000 after acquiring an additional 429,677 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of MannKind by 12.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock worth $8,798,000 after acquiring an additional 216,880 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of MannKind by 87.2% during the 4th quarter. Virtu Financial LLC now owns 96,066 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 44,737 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of MannKind by 71.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 235,886 shares of the biopharmaceutical company’s stock worth $1,069,000 after acquiring an additional 98,282 shares in the last quarter. 49.55% of the stock is 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.