MannKind (NASDAQ:MNKD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MannKind (NASDAQ:MNKD) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

MNKD has been the subject of several other research reports. Truist Financial decreased their price target on shares of MannKind from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a report on Friday, October 2nd. Royal Bank Of Canada increased their price objective on MannKind from $4.75 to $5.00 and gave the company a “sector perform” rating in a report on Friday. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Cantor Fitzgerald boosted their target price on MannKind from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday. Eight investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

MannKind Stock Performance

MNKD opened at $4.19 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of -18.22 and a beta of 1.10. The firm has a 50-day moving average of $3.56 and a 200 day moving average of $3.71. MannKind has a fifty-two week low of $2.23 and a fifty-two week high of $6.51.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. The company had revenue of $101.87 million during the quarter, compared to the consensus estimate of $107.74 million. The business’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Equities research analysts predict that MannKind will post -0.21 earnings per share for the current fiscal year.

Insider Activity at MannKind

In related news, Director Steven Binder sold 39,051 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $3.29, for a total value of $128,477.79. Following the completion of the transaction, the director directly owned 713,258 shares of the company’s stock, valued at approximately $2,346,618.82. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MannKind

Several institutional investors have recently made changes to their positions in MNKD. Alps Advisors Inc. raised its stake in shares of MannKind by 36.4% during the 3rd quarter. Alps Advisors Inc. now owns 426,020 shares of the biopharmaceutical company’s stock valued at $1,661,000 after purchasing an additional 113,669 shares during the period. CenterBook Partners LP bought a new position in MannKind in the 3rd quarter worth about $55,000. Mirae Asset Global Investments Co. Ltd. bought a new position in MannKind in the 3rd quarter worth about $64,000. International Assets Investment Management LLC boosted its stake in MannKind by 185.7% in the 3rd quarter. International Assets Investment Management LLC now owns 30,000 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 19,500 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in MannKind by 15.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 71,469 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 9,799 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

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).