MannKind Co. (NASDAQ:MNKD) Receives Average Recommendation of “Buy” from Analysts

Shares of MannKind Co. (NASDAQ:MNKD) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.67.

A number of equities analysts recently issued reports on MNKD shares. Oppenheimer increased their price objective on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Rodman & Renshaw started coverage on MannKind in a report on Thursday, June 13th. They issued a “buy” rating and a $8.00 price objective for the company. Leerink Partners started coverage on MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday, September 9th.

MannKind Trading Down 1.1 %

NASDAQ:MNKD opened at $6.20 on Friday. The firm has a market capitalization of $1.69 billion, a PE ratio of 206.67 and a beta of 1.32. The stock has a 50 day moving average of $5.82 and a 200-day moving average of $5.10. MannKind has a 52 week low of $3.17 and a 52 week high of $6.92.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The company had revenue of $72.39 million during the quarter, compared to analyst estimates of $64.81 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The business’s revenue was up 48.9% compared to the same quarter last year. As a group, analysts predict that MannKind will post 0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other MannKind news, insider Stuart A. Tross sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the completion of the sale, the insider now directly owns 1,022,191 shares in the company, valued at $6,398,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Stuart A. Tross sold 80,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.33, for a total transaction of $506,400.00. Following the completion of the sale, the insider now owns 1,047,191 shares in the company, valued at approximately $6,628,719.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stuart A. Tross sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the sale, the insider now owns 1,022,191 shares of the company’s stock, valued at approximately $6,398,915.66. The disclosure for this sale can be found here. Insiders sold 197,997 shares of company stock worth $1,245,912 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently modified their holdings of the stock. 9258 Wealth Management LLC acquired a new stake in shares of MannKind during the 1st quarter valued at $51,000. Meeder Asset Management Inc. purchased a new stake in shares of MannKind in the second quarter valued at $55,000. Brookstone Capital Management purchased a new stake in shares of MannKind in the second quarter valued at $61,000. Renaissance Technologies LLC purchased a new stake in shares of MannKind in the second quarter valued at $67,000. Finally, EntryPoint Capital LLC lifted its holdings in shares of MannKind by 60.9% in the first quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 9,008 shares in the last quarter. Institutional investors and hedge funds 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.