Commonwealth Equity Services LLC Purchases 3,861 Shares of MannKind Co. (NASDAQ:MNKD)

Commonwealth Equity Services LLC grew its position in shares of MannKind Co. (NASDAQ:MNKD) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,361 shares of the biopharmaceutical company’s stock after purchasing an additional 3,861 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MannKind were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in MannKind by 14.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after buying an additional 115,390 shares during the period. TSP Capital Management Group LLC boosted its position in MannKind by 196.0% in the second quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock worth $12,486,000 after purchasing an additional 1,583,800 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in MannKind by 82.5% in the second 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 during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of MannKind by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company’s stock worth $1,312,000 after buying an additional 15,423 shares during the period. Finally, Brookstone Capital Management bought a new stake in MannKind during the 2nd quarter valued at approximately $61,000. 49.55% of the stock is currently owned by institutional investors.

MannKind Stock Down 1.5 %

Shares of MNKD stock opened at $6.60 on Monday. The stock has a market capitalization of $1.80 billion, a PE ratio of 220.00 and a beta of 1.32. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $6.92. The stock’s 50-day moving average price is $5.76 and its 200 day moving average price is $5.05.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The business had revenue of $72.39 million for the quarter, compared to analyst estimates of $64.81 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The company’s quarterly revenue was up 48.9% on a year-over-year basis. Analysts expect that MannKind Co. will post 0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Oppenheimer lifted their target price on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price on the stock. Finally, Rodman & Renshaw assumed coverage on MannKind in a research note on Thursday, June 13th. They set a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.67.

Insider Transactions at MannKind

In related news, 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 transaction of $536,167.80. Following the completion of the sale, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at approximately $14,457,466.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MannKind news, insider Stuart A. Tross sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the sale, the insider now owns 1,022,191 shares in the company, valued at $6,398,915.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the sale, the chief executive officer now owns 2,294,836 shares in the company, valued at approximately $14,457,466.80. The disclosure for this sale can be found here. Insiders sold a total of 197,997 shares of company stock worth $1,245,912 in the last ninety days. Insiders own 3.00% of the company’s stock.

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.