MannKind (NASDAQ:MNKD) Raised to Buy at StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

MNKD has been the topic of a number of other reports. Leerink Partnrs raised shares of 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 price objective for the company. Finally, Oppenheimer upped their price target on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.67.

MannKind Stock Down 1.9 %

MNKD stock opened at $7.08 on Monday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 101.14 and a beta of 1.30. MannKind has a fifty-two week low of $3.17 and a fifty-two week high of $7.63. The business has a 50 day moving average price of $6.58 and a 200 day moving average price of $5.62.

Insider Transactions at MannKind

In related news, insider Stuart A. Tross sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the sale, the insider now owns 967,191 shares in the company, valued at $7,099,181.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total value of $536,167.80. Following the completion of the transaction, the chief executive officer now owns 2,294,836 shares in the company, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stuart A. Tross sold 55,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the sale, the insider now owns 967,191 shares in the company, valued at $7,099,181.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 250,161 shares of company stock valued at $1,632,795 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of MannKind

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its position in shares of MannKind by 189.8% during the 2nd quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after purchasing an additional 3,107,598 shares during the last quarter. TSP Capital Management Group LLC boosted its stake in shares of MannKind by 196.0% during the second quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after acquiring an additional 1,583,800 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in MannKind during the 2nd quarter worth about $1,524,000. Dark Forest Capital Management LP raised its stake in MannKind by 1,551.2% in the 2nd quarter. Dark Forest Capital Management LP now owns 275,970 shares of the biopharmaceutical company’s stock valued at $1,441,000 after purchasing an additional 259,257 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in MannKind by 15.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock valued at $11,859,000 after purchasing an additional 251,587 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

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.