MannKind Trading Up 9.7% on Analyst Upgrade (MNKD)
MannKind (NASDAQ:MNKD) shares were up 9.7% on Monday after Brinson Patrick raised their price target on the stock from $12.00 to $15.00, American Banking News reports. Brinson Patrick currently has an outperform rating on the stock. MannKind traded as high as $11.48 and last traded at $10.97, with a volume of 38,293,718 shares traded. The stock had previously closed at $10.00.
A number of other analysts have also recently weighed in on MNKD. Analysts at RBC Capital initiated coverage on shares of MannKind in a research note on Thursday, June 12th. They set an “outperform” rating and a $16.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.21.
In other MannKind news, VP Diane Palumbo sold 17,902 shares of the company’s stock on the open market in a transaction dated Monday, June 16th. The shares were sold at an average price of $10.59, for a total transaction of $189,582.18. The sale was disclosed in a legal filing with the SEC, which is available at this link.
The stock has a 50-day moving average of $9.09 and a 200-day moving average of $6.61. The company’s market cap is $4.165 billion. MannKind also was the target of some unusual options trading on Friday. Investors purchased 54,504 call options on the stock. This is an increase of approximately 139% compared to the average volume of 22,847 call options.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Analysts expect that MannKind will post $-0.37 EPS for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.