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

Shares of MannKind Corporation (NASDAQ:MNKD) have been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.3438.

A number of equities analysts have recently issued reports on the stock. Zacks Research cut shares of MannKind from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research report on Wednesday, July 8th. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Wall Street Zen lowered MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of MannKind in a research note on Friday, September 11th.

MannKind Stock Down 4.3%

Shares of MNKD stock opened at $3.34 on Thursday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -25.69 and a beta of 1.10. MannKind has a 52 week low of $2.23 and a 52 week high of $6.51. The firm has a 50 day moving average of $3.92 and a 200-day moving average of $3.47.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $109.37 million for the quarter, compared to the consensus estimate of $108.08 million. MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. MannKind’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. Analysts anticipate that MannKind will post -0.2 earnings per share for the current year.

Insider Activity

In related news, Director Steven Binder sold 39,051 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $4.06, for a total value of $158,547.06. Following the transaction, the director directly owned 785,867 shares in the company, valued at $3,190,620.02. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Krilogy Financial LLC bought a new position in shares of MannKind in the first quarter valued at $28,000. Independent Financial Group LLC bought a new stake in shares of MannKind during the first quarter worth about $31,000. Waverly Advisors LLC acquired a new stake in shares of MannKind in the 1st quarter worth about $43,000. Discipline Wealth Solutions LLC bought a new position in MannKind in the 1st quarter valued at about $45,000. Finally, Allworth Financial LP lifted its position in MannKind by 2,013.4% in the 2nd quarter. Allworth Financial LP now owns 11,074 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 10,550 shares in the last quarter. 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).