MannKind (NASDAQ:MNKD) Coverage Initiated by Analysts at Chardan Capital

Chardan Capital began coverage on shares of MannKind (NASDAQ:MNKD) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $10.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also commented on MNKD. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen downgraded shares of MannKind from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Wells Fargo & Company dropped their price objective on shares of MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Finally, Truist Financial cut their target price on shares of MannKind from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.08.

MannKind Price Performance

MannKind stock opened at $3.09 on Monday. The company has a market cap of $993.56 million, a PE ratio of -23.77 and a beta of 1.09. The company has a fifty day moving average price of $3.71 and a two-hundred day moving average price of $3.58. MannKind has a 12 month low of $2.23 and a 12 month high of $6.51.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $109.37 million for the quarter, compared to the consensus estimate of $108.08 million. The firm’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. Equities research analysts anticipate that MannKind will post -0.20 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven Binder sold 39,051 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $4.06, for a total transaction of $158,547.06. Following the completion of the transaction, the director directly owned 785,867 shares in the company, valued at $3,190,620.02. This represents a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 111,660 shares of company stock worth $414,881. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MannKind

A number of hedge funds have recently added to or reduced their stakes in MNKD. Krilogy Financial LLC acquired a new stake in shares of MannKind in the first quarter valued at approximately $28,000. Independent Financial Group LLC acquired a new stake in shares of MannKind in the 1st quarter worth approximately $31,000. AdvisorNet Financial Inc acquired a new stake in shares of MannKind in the 3rd quarter worth approximately $39,000. Waverly Advisors LLC acquired a new stake in shares of MannKind in the 1st quarter worth approximately $43,000. Finally, Discipline Wealth Solutions LLC bought a new position in shares of MannKind in the first quarter valued at approximately $45,000. 49.55% of the stock is currently 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).