Brokerages Set MannKind Corporation (NASDAQ:MNKD) PT at $10.06

MannKind Corporation (NASDAQ:MNKD) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.0625.

MNKD has been the topic of a number of research reports. Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Oppenheimer boosted their target price on shares of MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada decreased their target price on shares of MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th.

Insider Buying and Selling

In other news, EVP Sanjay R. Singh sold 18,777 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total transaction of $94,448.31. Following the sale, the executive vice president directly owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Castagna sold 65,804 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $6.01, for a total value of $395,482.04. Following the completion of the transaction, the chief executive officer owned 2,504,792 shares in the company, valued at $15,053,799.92. The trade was a 2.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 234,617 shares of company stock worth $1,343,741 in the last three months. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MannKind

A number of large investors have recently bought and sold shares of the company. Rubric Capital Management LP acquired a new position in shares of MannKind in the 3rd quarter valued at approximately $61,297,000. Nuveen LLC bought a new position in MannKind in the first quarter valued at approximately $17,011,000. UBS Group AG raised its position in MannKind by 146.7% during the third quarter. UBS Group AG now owns 5,194,739 shares of the biopharmaceutical company’s stock valued at $27,896,000 after purchasing an additional 3,088,820 shares in the last quarter. Wellington Management Group LLP lifted its stake in MannKind by 316.2% during the third quarter. Wellington Management Group LLP now owns 3,467,721 shares of the biopharmaceutical company’s stock worth $18,622,000 after purchasing an additional 2,634,533 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of MannKind by 68.9% in the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after purchasing an additional 2,375,198 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Stock Down 2.2%

MannKind stock opened at $5.84 on Tuesday. The company’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $4.76. The stock has a market cap of $1.79 billion, a P/E ratio of 58.40 and a beta of 0.82. MannKind has a twelve month low of $3.38 and a twelve month high of $7.07.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $82.13 million during the quarter, compared to analysts’ expectations of $80.47 million. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. Equities analysts anticipate that MannKind will post 0.1 earnings per share for the current fiscal year.

MannKind Company Profile

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.