MannKind (NASDAQ:MNKD) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of MannKind Corporation (NASDAQ:MNKD) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.66 and traded as high as $4.36. MannKind shares last traded at $4.15, with a volume of 3,204,412 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on MNKD shares. Mizuho dropped their target price on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company decreased their price target on shares of MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. HC Wainwright restated a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.22.

MannKind Trading Down 2.6%

The stock has a fifty day moving average of $4.03 and a two-hundred day moving average of $3.66. The company has a market capitalization of $1.33 billion, a PE ratio of -31.92 and a beta of 1.12.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $109.37 million during the quarter, compared to analyst estimates of $108.08 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 11.08%.MannKind’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Equities analysts forecast that MannKind Corporation will post -0.2 EPS for the current year.

Insider Activity

In other news, Director Steven B. Binder sold 39,051 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $4.06, for a total value of $158,547.06. Following the completion of the sale, the director owned 785,867 shares of the company’s stock, valued at approximately $3,190,620.02. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Institutional Trading of MannKind

Hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC bought a new position in shares of MannKind during the first quarter valued at about $28,000. Independent Financial Group LLC purchased a new stake in MannKind during the 1st quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in MannKind by 108.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 2,927 shares during the period. Waverly Advisors LLC bought a new position in MannKind during the 1st quarter worth approximately $43,000. Finally, International Assets Investment Management LLC bought a new position in MannKind during the 4th quarter worth approximately $45,000. 49.55% of the stock is owned by institutional investors.

About MannKind

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).