Royal Bank Of Canada Forecasts Strong Price Appreciation for MannKind (NASDAQ:MNKD) Stock

Key Points

• Royal Bank of Canada raised its MannKind price target from $4.75 to $5.00 while maintaining a “sector perform” rating; the new target implies 28.37% upside from the prior close.
• Analyst views are broadly positive but mixed: MarketBeat’s consensus is “Moderate Buy” with an average target of $8.33, including Cantor Fitzgerald’s $10 target and one “Sell” rating.
• MannKind’s third-quarter revenue rose 24% year over year to $101.87 million, and its loss per share was smaller than expected, though revenue missed analyst estimates.

MannKind (NASDAQ:MNKD - Get Free Report) had its target price raised by equities researchers at Royal Bank Of Canada from $4.75 to $5.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "sector perform" rating on the biopharmaceutical company's stock. Royal Bank Of Canada's target price suggests a potential upside of 28.37% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of MannKind from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Cantor Fitzgerald raised their target price on shares of MannKind from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday. HC Wainwright reiterated a "buy" rating on shares of MannKind in a research report on Thursday, July 23rd. Wall Street Zen cut MannKind from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Truist Financial reduced their price target on MannKind from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Wednesday, October 7th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.33.

MannKind Stock Up 3.6%

Shares of MannKind stock traded up $0.14 during trading on Friday, reaching $3.90. The company's stock had a trading volume of 2,294,307 shares, compared to its average volume of 5,096,323. The business's 50-day moving average price is $3.55 and its 200-day moving average price is $3.72. The firm has a market cap of $1.25 billion, a PE ratio of -29.96 and a beta of 1.10. MannKind has a 52 week low of $2.23 and a 52 week high of $6.51.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. The business had revenue of $101.87 million during the quarter, compared to analyst estimates of $107.74 million. During the same quarter last year, the company posted $0.03 earnings per share. The company's revenue was up 24.0% on a year-over-year basis. Equities analysts predict that MannKind will post -0.21 earnings per share for the current year.

Insider Buying and Selling at MannKind

In related news, Director Steven Binder sold 39,051 shares of the company's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $3.29, for a total transaction of $128,477.79. Following the completion of the sale, the director directly owned 713,258 shares in the company, valued at $2,346,618.82. This represents a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

MannKind News Roundup

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target to $10 from $8 and reiterated an “overweight” rating, signaling confidence in MannKind’s prospects. Cantor Fitzgerald analyst ratings
• Positive Sentiment: MannKind said it anticipates about $1 billion in revenue from its United Therapeutics deal during 2027–2030 and is targeting profitability in the fourth quarter. This outlook could support investor expectations for future growth. MannKind’s United Therapeutics outlook
• Positive Sentiment: Third-quarter revenue grew 24% year over year, and the reported loss per share was narrower than analysts expected, offering some positive signals on operating performance. MannKind third-quarter results and business update
• Negative Sentiment: Revenue of $101.87 million missed the $107.74 million consensus estimate. MannKind also reported a quarterly loss, compared with earnings in the year-ago quarter, underscoring that profitability remains a challenge. MannKind reports third-quarter loss and revenue miss

MannKind Company Profile

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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