MannKind Co. (NASDAQ:MNKD) Receives Consensus Recommendation of "Buy" from Brokerages

MannKind Co. (NASDAQ:MNKD - Get Free Report) has earned a consensus rating of "Buy" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.00.

A number of research firms have recently commented on MNKD. Mizuho initiated coverage on MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 target price for the company. Wall Street Zen upgraded MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Wedbush restated an "outperform" rating and issued a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th.

Insider Activity

In other MannKind news, EVP David Thomson sold 32,179 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total transaction of $150,597.72. Following the sale, the executive vice president now owns 772,427 shares of the company's stock, valued at approximately $3,614,958.36. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 80,144 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total value of $375,875.36. Following the sale, the director now directly owns 1,006,611 shares in the company, valued at $4,721,005.59. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,746 shares of company stock valued at $589,958. 3.00% of the stock is currently owned by insiders.

Institutional Trading of MannKind

Hedge funds and other institutional investors have recently bought and sold shares of the stock. E Fund Management Co. Ltd. lifted its holdings in shares of MannKind by 9.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock valued at $142,000 after purchasing an additional 1,828 shares during the last quarter. Xponance Inc. lifted its position in MannKind by 10.6% during the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock worth $123,000 after acquiring an additional 1,828 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in MannKind by 4.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,895 shares of the biopharmaceutical company's stock worth $306,000 after acquiring an additional 2,420 shares during the period. Summit Investment Advisors Inc. lifted its position in MannKind by 10.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 2,657 shares during the period. Finally, AXQ Capital LP lifted its holdings in MannKind by 19.8% in the fourth quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after acquiring an additional 3,717 shares during the period. Institutional investors own 49.55% of the company's stock.

MannKind Trading Up 1.0%

Shares of MNKD stock traded up $0.04 during trading hours on Friday, reaching $4.16. The company's stock had a trading volume of 2,472,792 shares, compared to its average volume of 2,378,431. The stock has a market capitalization of $1.26 billion, a P/E ratio of 59.43 and a beta of 1.14. MannKind has a one year low of $4.05 and a one year high of $7.63. The firm's fifty day simple moving average is $4.64 and its 200 day simple moving average is $5.55.

MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $78.35 million during the quarter, compared to analysts' expectations of $75.86 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts forecast that MannKind will post 0.1 earnings per share for the current fiscal year.

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.