MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder Sells 64,085 Shares

MannKind Co. (NASDAQ:MNKD - Get Free Report) Director Steven B. Binder sold 64,085 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $4.00, for a total transaction of $256,340.00. Following the transaction, the director now directly owns 925,258 shares in the company, valued at $3,701,032. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

MannKind Price Performance

NASDAQ:MNKD traded down $0.12 during trading hours on Friday, reaching $3.71. 1,780,690 shares of the company were exchanged, compared to its average volume of 2,386,432. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 53.00 and a beta of 1.02. MannKind Co. has a 52-week low of $3.70 and a 52-week high of $7.63. The stock has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $5.37.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. MannKind's revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. On average, analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MannKind

Large investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in shares of MannKind in the 4th quarter valued at $37,000. Jones Financial Companies Lllp raised its stake in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 6,392 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of MannKind in the 1st quarter valued at $51,000. Sowell Financial Services LLC purchased a new position in shares of MannKind in the 1st quarter valued at $56,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of MannKind in the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of MannKind from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Wedbush reissued an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, Mizuho assumed coverage on shares of MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, MannKind currently has a consensus rating of "Buy" and an average price target of $10.00.

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.