MannKind Corporation (NASDAQ:MNKD) Given Average Recommendation of “Moderate Buy” by Analysts

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

Several research firms have commented on MNKD. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. HC Wainwright lifted their price target on MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen downgraded MannKind from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Royal Bank Of Canada increased their price objective on MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Finally, Mizuho lowered their target price on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th.

MannKind Stock Performance

MNKD stock opened at $4.52 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -64.56 and a beta of 1.09. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The stock’s fifty day moving average is $3.52 and its two-hundred day moving average is $4.08.

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

Insider Transactions at MannKind

In other news, Director Steven B. Binder sold 16,940 shares of the stock in a transaction 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 completion of the transaction, the director owned 808,008 shares of the company’s stock, valued at approximately $2,658,346.32. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MannKind

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in MannKind by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 17,880,873 shares of the biopharmaceutical company’s stock worth $101,385,000 after purchasing an additional 250,290 shares during the period. State Street Corp increased its stake in MannKind by 36.2% during the 4th quarter. State Street Corp now owns 14,623,269 shares of the biopharmaceutical company’s stock valued at $82,914,000 after buying an additional 3,883,071 shares during the period. Rubric Capital Management LP acquired a new position in MannKind during the 3rd quarter valued at about $61,297,000. UBS Group AG raised its position in shares of MannKind by 146.7% during the 3rd quarter. UBS Group AG now owns 5,194,739 shares of the biopharmaceutical company’s stock worth $27,896,000 after buying an additional 3,088,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of MannKind by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock worth $12,134,000 after buying an additional 509,692 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

MannKind Company Profile

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).