Analysts Set MannKind Co. (NASDAQ:MNKD) Price Target at $10.00

Shares of MannKind Co. (NASDAQ:MNKD - Get Free Report) have been given a consensus recommendation of "Buy" by the eight brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.00.

Several equities analysts have recently commented on MNKD shares. Wall Street Zen raised MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Wedbush reaffirmed an "outperform" rating and set a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Finally, Mizuho started coverage on MannKind in a report on Thursday, April 10th. They set an "outperform" rating and a $12.00 target price for the company.

Insider Transactions at MannKind

In other MannKind news, EVP David Thomson sold 32,179 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the sale, the executive vice president now directly owns 772,427 shares in the company, valued at $3,614,958.36. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Binder sold 80,144 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total value of $375,875.36. Following the completion of the sale, the director now owns 1,006,611 shares of the company's stock, valued at $4,721,005.59. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,746 shares of company stock worth $589,958. Company insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On MannKind

A number of institutional investors have recently added to or reduced their stakes in MNKD. GF Fund Management CO. LTD. acquired a new stake in MannKind in the fourth quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its position in shares of MannKind by 3,294.8% during 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 last quarter. Blueshift Asset Management LLC acquired a new stake in shares of MannKind during the 1st quarter valued at $51,000. Sowell Financial Services LLC acquired a new stake in shares of MannKind during the 1st quarter valued at $56,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind during the 4th quarter valued at $65,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Trading Up 3.0%

MannKind stock traded up $0.13 during midday trading on Friday, hitting $4.42. The stock had a trading volume of 2,568,140 shares, compared to its average volume of 2,377,316. The stock has a market cap of $1.34 billion, a P/E ratio of 63.14 and a beta of 1.14. MannKind has a 12 month low of $4.05 and a 12 month high of $7.63. The business has a fifty day moving average price of $4.61 and a 200 day moving average price of $5.51.

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

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.