MannKind Co. (NASDAQ:MNKD) Given Average Recommendation of “Buy” by Brokerages

MannKind Co. (NASDAQ:MNKD) has been given an average rating of “Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.67.

Several research analysts have recently weighed in on MNKD shares. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Oppenheimer boosted their target price on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Leerink Partners initiated coverage on shares of MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 price target for the company. Finally, Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a report on Monday, September 9th.

Insider Buying and Selling at MannKind

In related news, insider Stuart A. Tross sold 55,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total value of $403,700.00. Following the sale, the insider now owns 967,191 shares in the company, valued at approximately $7,099,181.94. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 67,539 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.76, for a total value of $456,563.64. Following the transaction, the director now owns 1,075,026 shares of the company’s stock, valued at $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,075 shares of company stock worth $1,325,587 over the last three months. Insiders own 3.00% of the company’s stock.

Institutional Trading of MannKind

Several hedge funds have recently made changes to their positions in MNKD. Price T Rowe Associates Inc. MD increased its stake in MannKind by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 172,054 shares of the biopharmaceutical company’s stock worth $780,000 after buying an additional 9,410 shares during the period. 180 Wealth Advisors LLC increased its position in shares of MannKind by 4.7% during the second quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock worth $11,411,000 after acquiring an additional 91,924 shares during the period. Brookstone Capital Management acquired a new stake in shares of MannKind in the second quarter valued at $61,000. Hennion & Walsh Asset Management Inc. boosted its holdings in MannKind by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 15,423 shares during the period. Finally, Aaron Wealth Advisors LLC grew its stake in MannKind by 82.5% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 176,998 shares of the biopharmaceutical company’s stock worth $924,000 after purchasing an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Down 1.0 %

Shares of NASDAQ:MNKD opened at $6.73 on Friday. MannKind has a 52-week low of $3.17 and a 52-week high of $7.63. The stock has a market cap of $1.86 billion, a P/E ratio of 96.14 and a beta of 1.28. The business has a fifty day moving average of $6.73 and a two-hundred day moving average of $5.89.

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.