MannKind (NASDAQ:MNKD) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded MannKind from “sell” to “hold.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $8.33.
• Quarterly results were mixed: revenue increased 24% year over year to $101.87 million but missed expectations of $107.74 million; the loss per share was narrower than analysts forecast.
• MannKind’s longer-term outlook includes about $1 billion in revenue from its United Therapeutics agreement during 2027–2030, with profitability targeted for the fourth quarter.

MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Zacks Research raised MannKind from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. HC Wainwright reaffirmed a "buy" rating on shares of MannKind in a research note on Thursday, July 23rd. Cantor Fitzgerald lifted their target price on MannKind from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of MannKind from $4.75 to $5.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Wells Fargo & Company reduced their price target on shares of MannKind from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $8.33.

MannKind Stock Up 3.7%

Shares of MNKD stock opened at $3.90 on Friday. MannKind has a 12-month low of $2.23 and a 12-month high of $6.51. The firm has a fifty day moving average of $3.55 and a 200-day moving average of $3.71. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -16.96 and a beta of 1.10.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.05. The firm had revenue of $101.87 million for the quarter, compared to analysts' expectations of $107.74 million. The firm's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. On average, equities analysts expect that MannKind will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other MannKind news, Director Steven Binder sold 39,051 shares of the business's stock in a transaction dated Friday, September 25th. The stock was 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. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On MannKind

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in MannKind by 138.9% during the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company's stock worth $33,419,000 after purchasing an additional 4,561,628 shares during the last quarter. Braidwell LP purchased a new position in MannKind in the second quarter valued at approximately $14,733,000. 180 Wealth Advisors LLC increased its position in shares of MannKind by 45.0% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company's stock worth $10,515,000 after purchasing an additional 1,332,759 shares during the last quarter. Bank of America Corp DE grew its position in MannKind by 43.2% in the 1st quarter. Bank of America Corp DE now owns 3,383,677 shares of the biopharmaceutical company's stock valued at $8,290,000 after buying an additional 1,021,456 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of MannKind in the 2nd quarter valued at approximately $3,827,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

More MannKind News

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: Analysts raised price targets. Cantor Fitzgerald lifted its target to $10 from $8 and maintained an “overweight” rating. RBC raised its target to $5 from $4.75, while keeping a “sector perform” rating. Cantor Fitzgerald analyst information RBC price target report
• Positive Sentiment: Longer-term revenue and profitability outlook. MannKind expects its United Therapeutics agreement to generate about $1 billion in revenue from 2027 through 2030, and is targeting profitability in the fourth quarter. United Therapeutics deal and profitability outlook
• Neutral Sentiment: Quarterly results were mixed. MannKind’s revenue rose 24% year over year to $101.87 million, and its reported loss per share was narrower than the consensus estimate. MannKind third-quarter results
• Negative Sentiment: Revenue missed expectations, and the company remained loss-making. Sales of $101.87 million were below analysts’ $107.74 million estimate, while EPS was down from a profit in the year-ago quarter. Q3 loss and revenue miss

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).

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