MannKind Corporation (NASDAQ:MNKD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MannKind Corporation (NASDAQ:MNKD) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.9688.

Several research firms have recently weighed in on MNKD. Mizuho lowered their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Wedbush lowered their price objective on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Weiss Ratings lowered MannKind from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, HC Wainwright upped their price objective on MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, May 7th.

MannKind Stock Performance

Shares of MannKind stock opened at $3.39 on Tuesday. The firm’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $4.27. MannKind has a twelve month low of $2.23 and a twelve month high of $6.51. The firm has a market cap of $1.05 billion, a P/E ratio of -48.42 and a beta of 1.13.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The business had revenue of $90.17 million for the quarter, compared to analyst estimates of $105.38 million. During the same quarter last year, the firm posted $0.04 earnings per share. MannKind’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that MannKind will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 16,940 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the sale, the director directly owned 808,008 shares in the company, valued at approximately $2,658,346.32. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MannKind

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 2,927 shares in the last quarter. International Assets Investment Management LLC bought a new stake in MannKind during the 4th quarter worth approximately $45,000. Huntington National Bank grew its position in MannKind by 420.0% during the 4th quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 8,400 shares during the last quarter. Burkett Financial Services LLC bought a new stake in MannKind during the 4th quarter worth approximately $59,000. Finally, Laurel Wealth Advisors LLC bought a new stake in MannKind during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).