MannKind Co. (NASDAQ:MNKD) Receives Consensus Rating of “Buy” from Brokerages

MannKind Co. (NASDAQ:MNKD) has received an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.67.

A number of equities research analysts have commented on the stock. Leerink Partners assumed coverage on shares of MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target for the company. Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. Finally, Oppenheimer raised their price target on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th.

MannKind Stock Up 1.8 %

MNKD opened at $6.73 on Thursday. MannKind has a twelve month low of $3.17 and a twelve month high of $6.92. The company has a fifty day moving average of $6.03 and a 200-day moving average of $5.26. The stock has a market cap of $1.83 billion, a PE ratio of 224.33 and a beta of 1.31.

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

Insider Buying and Selling at MannKind

In other MannKind news, insider Stuart A. Tross sold 80,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the transaction, the insider now directly owns 1,047,191 shares of the company’s stock, valued at approximately $6,628,719.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the transaction, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stuart A. Tross sold 80,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the transaction, the insider now directly owns 1,047,191 shares in the company, valued at $6,628,719.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,161 shares of company stock valued at $1,229,095. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MNKD. Millennium Management LLC lifted its position in shares of MannKind by 189.8% during the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after purchasing an additional 3,107,598 shares in the last quarter. TSP Capital Management Group LLC raised 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 acquiring an additional 1,583,800 shares during the period. Dimensional Fund Advisors LP bought a new stake in MannKind in the second quarter worth about $1,524,000. Dark Forest Capital Management LP raised its position in MannKind by 1,551.2% in the second quarter. Dark Forest Capital Management LP now owns 275,970 shares of the biopharmaceutical company’s stock worth $1,441,000 after acquiring an additional 259,257 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in MannKind by 12.6% in the first 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 during the period. 49.55% of the stock is owned by institutional investors.

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.