Insider Selling: Juergen Martens Sells 120,000 Shares of MannKind Stock (MNKD)
MannKind (NASDAQ:MNKD) VP Juergen Martens unloaded 120,000 shares of MannKind stock on the open market in a transaction dated Thursday, June 5th. The stock was sold at an average price of $11.00, for a total transaction of $1,320,000.00. Following the completion of the transaction, the vice president now directly owns 114,024 shares in the company, valued at approximately $1,254,264. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
MNKD has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, May 14th. They now have a $7.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of MannKind from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 14th. They now have a $6.50 price target on the stock, up previously from $2.00. They noted that the move was a valuation call. Finally, analysts at MLV & Co
reiterated a “buy” rating on shares of MannKind in a research note on Tuesday, May 13th. They now have a $10.00 price target on the stock, down previously from $11.00. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.58.
Shares of MannKind (NASDAQ:MNKD) traded up 2.39% during mid-day trading on Friday, hitting $10.28. The stock had a trading volume of 9,465,281 shares. MannKind has a 52 week low of $3.80 and a 52 week high of $11.11. The stock has a 50-day moving average of $7.35 and a 200-day moving average of $6.03. The company’s market cap is $3.885 billion.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.01. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, analysts predict that MannKind will post $-0.39 earnings per share for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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