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

MannKind Corporation (NASDAQ:MNKD) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.9688.

Several equities research analysts recently commented on the company. Royal Bank Of Canada increased their price target on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Mizuho reduced their target price on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Wall Street Zen upgraded MannKind from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, HC Wainwright upped their price target 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 MNKD stock opened at $4.25 on Friday. The stock’s fifty day moving average is $3.61 and its two-hundred day moving average is $4.03. The firm has a market capitalization of $1.31 billion, a P/E ratio of -60.71 and a beta of 1.09. MannKind has a fifty-two week low of $2.23 and a fifty-two week high of $6.51.

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

Insider Buying and Selling

In other MannKind news, Director Steven B. Binder sold 16,940 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $3.29, for a total transaction of $55,732.60. Following the completion of the transaction, the director owned 808,008 shares of the company’s stock, valued at $2,658,346.32. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is owned by insiders.

Institutional Trading of MannKind

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

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).