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

Shares of MannKind Corporation (NASDAQ:MNKDGet Free Report) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.33.

A number of research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Mizuho assumed coverage on MannKind in a research note on Thursday, April 10th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th.

Read Our Latest Research Report on MNKD

MannKind Stock Performance

MNKD stock opened at $3.80 on Tuesday. MannKind has a fifty-two week low of $3.63 and a fifty-two week high of $7.63. The business’s 50 day moving average price is $4.38 and its two-hundred day moving average price is $5.23. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 38.00 and a beta of 1.02.

MannKind (NASDAQ:MNKDGet Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts forecast that MannKind will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other MannKind news, EVP David Thomson sold 32,179 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total transaction of $150,597.72. Following the sale, the executive vice president now directly owns 772,427 shares in the company, valued at approximately $3,614,958.36. This trade represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven B. Binder sold 80,144 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total value of $375,875.36. Following the transaction, the director now directly owns 1,006,611 shares in the company, valued at $4,721,005.59. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,831 shares of company stock worth $846,298 in the last 90 days. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On MannKind

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of MannKind by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock valued at $87,131,000 after buying an additional 1,263,622 shares during the period. Geode Capital Management LLC lifted its holdings in shares of MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company’s stock valued at $40,996,000 after buying an additional 35,346 shares during the period. Millennium Management LLC lifted its holdings in shares of MannKind by 68.9% during the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after buying an additional 2,375,198 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock valued at $31,427,000 after buying an additional 3,587,484 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of MannKind by 23.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company’s stock valued at $27,450,000 after buying an additional 798,469 shares during the period. 49.55% of the stock is owned by institutional investors.

MannKind Company Profile

(Get Free Report

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.

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Analyst Recommendations for MannKind (NASDAQ:MNKD)

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