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

MannKind Corporation (NASDAQ:MNKD) has been given a consensus rating of “Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.0625.

Several research analysts recently commented on MNKD shares. Wells Fargo & Company lowered their target price on MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Truist Financial set a $9.00 price objective on MannKind in a research report on Monday, November 24th. Leerink Partners initiated coverage on shares of MannKind in a research note on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price on the stock. Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research report on Thursday, January 22nd.

MannKind Stock Performance

Shares of MNKD stock opened at $5.78 on Wednesday. MannKind has a fifty-two week low of $3.38 and a fifty-two week high of $6.51. The company has a 50 day moving average price of $5.74 and a 200 day moving average price of $5.22. The stock has a market capitalization of $1.77 billion, a P/E ratio of 57.80 and a beta of 0.84.

Insider Activity at MannKind

In other news, insider Stuart A. Tross sold 47,006 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $6.33, for a total value of $297,547.98. Following the transaction, the insider owned 985,007 shares in the company, valued at approximately $6,235,094.31. This represents a 4.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sanjay R. Singh sold 18,777 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the sale, the executive vice president owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. The trade was a 3.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 281,623 shares of company stock valued at $1,641,289 over the last quarter. 3.00% of the stock is owned by insiders.

Institutional Trading of MannKind

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of MannKind by 19.8% in the 1st quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after buying an additional 9,160 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MannKind by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock valued at $1,059,000 after acquiring an additional 6,079 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MannKind by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock worth $3,374,000 after purchasing an additional 53,202 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of MannKind by 1,379.2% during the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 6,896 shares in the last quarter. Finally, Master S Wealth Management Inc. purchased a new stake in shares of MannKind in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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.