MannKind Corporation (NASDAQ:MNKD) Given Consensus Rating of “Buy” by Analysts

MannKind Corporation (NASDAQ:MNKD) has received a consensus rating of “Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.0625.

Several equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of MannKind in a report on Thursday, January 8th. Wells Fargo & Company reduced their price objective on MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th. Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Royal Bank Of Canada reduced their price target on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday, November 11th.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 47,006 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Castagna sold 107,920 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total transaction of $601,114.40. Following the sale, the chief executive officer owned 2,504,792 shares in the company, valued at approximately $13,951,691.44. The trade was a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 281,623 shares of company stock valued at $1,641,289. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MNKD. Level Four Advisory Services LLC boosted its position in shares of MannKind by 12.5% during the third quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,925 shares during the last quarter. Franklin Resources Inc. raised its position in MannKind by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company’s stock worth $871,000 after buying an additional 2,201 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in MannKind by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 2,443 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of MannKind by 9.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,913 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 2,739 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of MannKind by 4.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 77,726 shares of the biopharmaceutical company’s stock valued at $291,000 after acquiring an additional 3,506 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

NASDAQ:MNKD opened at $5.61 on Friday. The firm’s 50-day moving average price is $5.59 and its 200-day moving average price is $4.99. The company has a market capitalization of $1.72 billion, a PE ratio of 56.10 and a beta of 0.81. MannKind has a 1-year low of $3.38 and a 1-year high of $6.51.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. MannKind’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Equities analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

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.