MannKind Corporation (NASDAQ:MNKD) Receives Average Recommendation of “Buy” from Analysts

Shares of MannKind Corporation (NASDAQ:MNKD) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.0625.

Several research firms recently weighed in on MNKD. Truist Financial set a $9.00 price target on shares of MannKind in a research report on Monday, November 24th. Royal Bank Of Canada decreased their price target on shares of MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a research note on Thursday, January 22nd. Wall Street Zen raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company dropped their price target on MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th.

Insider Transactions at MannKind

In other news, CEO Michael Castagna sold 107,920 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total transaction of $601,114.40. Following the transaction, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at approximately $13,951,691.44. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stuart A. Tross sold 47,006 shares of MannKind stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $6.33, for a total transaction of $297,547.98. Following the transaction, the insider directly owned 985,007 shares in the company, valued at $6,235,094.31. This trade represents a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 281,623 shares of company stock worth $1,641,289 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in MannKind by 19.8% in the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 9,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of MannKind by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock worth $1,059,000 after purchasing an additional 6,079 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MannKind by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock valued at $3,374,000 after buying an additional 53,202 shares during the period. Farther Finance Advisors LLC lifted its position in MannKind by 1,379.2% in the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,896 shares during the last quarter. Finally, Master S Wealth Management Inc. purchased a new position in MannKind during the second quarter worth about $44,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Up 3.3%

Shares of NASDAQ MNKD opened at $6.21 on Wednesday. MannKind has a 52 week low of $3.38 and a 52 week high of $6.51. The business’s 50 day moving average price is $5.72 and its 200 day moving average price is $5.19. The firm has a market cap of $1.91 billion, a P/E ratio of 62.10 and a beta of 0.84.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The company had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. During the same period last year, the company earned $0.04 earnings per share. MannKind’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, research analysts expect that MannKind will post 0.1 earnings per share for the current year.

About MannKind

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.