MannKind Corporation (NASDAQ:MNKD) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate MannKind a “Moderate Buy”: Eight of 11 analysts recommend buying, two rate it a hold and one a sell; the average 12-month price target is $8.08.
• Quarterly results were mixed: MannKind’s loss of $0.01 per share beat estimates of a $0.06 loss, while revenue of $101.87 million fell short of forecasts. Revenue increased 24% year over year.
• MNKD opened at $3.76, within its 52-week range of $2.23 to $6.51. A company director also sold 39,051 shares at an average price of $3.29.

Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.08.

MNKD has been the topic of several recent research reports. Zacks Research upgraded MannKind from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Chardan Capital started coverage on shares of MannKind in a report on Monday, October 19th. They set a "buy" rating and a $10.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price objective on shares of MannKind in a report on Tuesday, October 20th. Weiss Ratings reissued a "sell (d)" rating on shares of MannKind in a research note on Friday, October 2nd. Finally, Wells Fargo & Company decreased their price target on MannKind from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Thursday, August 6th.

MannKind Price Performance

NASDAQ MNKD opened at $3.76 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of -28.92 and a beta of 1.10. The stock's 50-day moving average is $3.55 and its 200-day moving average is $3.72. MannKind has a one year low of $2.23 and a one year high of $6.51.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $107.74 million. The firm's quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Equities analysts anticipate that MannKind will post -0.21 EPS for the current year.

Insider Transactions at MannKind

In other MannKind news, Director Steven Binder sold 39,051 shares of the company's stock in a transaction dated 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 sale, the director directly owned 713,258 shares of the company's stock, valued at approximately $2,346,618.82. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNKD. Alps Advisors Inc. increased 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 worth $1,661,000 after acquiring an additional 113,669 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of MannKind in the third quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. bought a new position in MannKind during the 3rd quarter valued at about $64,000. International Assets Investment Management LLC boosted its holdings in MannKind by 185.7% in the third 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 last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of MannKind by 15.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 71,469 shares of the biopharmaceutical company's stock worth $279,000 after acquiring an additional 9,799 shares during the period. 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).

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