Analysts Set MannKind Corporation (NASDAQ:MNKD) PT at $8.97

by · The Markets Daily

MannKind Corporation (NASDAQ:MNKD – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.3438.

MNKD has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating on shares of MannKind in a report on Thursday, July 23rd. Zacks Research downgraded MannKind from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Royal Bank Of Canada increased their price objective on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their target price on MannKind from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wall Street Zen raised MannKind from a “sell” rating to a “hold” rating in a report on Sunday, July 5th.

View Our Latest Stock Report on MNKD

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 16,940 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total transaction of $55,732.60. Following the completion of the transaction, the director directly owned 808,008 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.60% of the company’s stock.

Institutional Trading of MannKind

Several institutional investors have recently added to or reduced their stakes in the stock. Krilogy Financial LLC bought a new position in MannKind during the 1st quarter worth approximately $28,000. Independent Financial Group LLC bought a new position in MannKind during the first quarter worth $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in MannKind by 108.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 2,927 shares during the period. Waverly Advisors LLC bought a new stake in MannKind during the first quarter valued at $43,000. Finally, International Assets Investment Management LLC bought a new stake in MannKind during the fourth quarter valued at $45,000. 49.55% of the stock is currently owned by institutional investors.

MannKind Price Performance

NASDAQ:MNKD opened at $3.91 on Wednesday. The firm’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $3.82. MannKind has a one year low of $2.23 and a one year high of $6.51. The company has a market cap of $1.21 billion, a PE ratio of -55.85 and a beta of 1.12.

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

MannKind Company Profile

(Get Free Report)

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).

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