MannKind Corporation (NASDAQ:MNKD) Given Average Recommendation of "Buy" by Brokerages

MannKind Corporation (NASDAQ:MNKD - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.33.

Several equities research analysts recently issued reports on MNKD shares. Wall Street Zen raised MannKind from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Mizuho started coverage on MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other MannKind news, 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 transaction of $375,875.36. Following the completion of the transaction, the director now owns 1,006,611 shares of the company's stock, valued at $4,721,005.59. This represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Thomson sold 32,179 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the transaction, the executive vice president now directly owns 772,427 shares of the company's stock, valued at $3,614,958.36. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 190,831 shares of company stock valued at $846,298 over the last 90 days. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in MannKind by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company's stock valued at $87,131,000 after purchasing an additional 1,263,622 shares during the last quarter. Geode Capital Management LLC raised its position in MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock valued at $40,996,000 after purchasing an additional 35,346 shares during the last quarter. Millennium Management LLC raised its position in MannKind by 68.9% during the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company's stock valued at $29,288,000 after purchasing an additional 2,375,198 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after purchasing an additional 3,587,484 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of MannKind by 23.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock worth $27,450,000 after acquiring an additional 798,469 shares during the period. Institutional investors own 49.55% of the company's stock.

MannKind Stock Performance

NASDAQ:MNKD opened at $3.80 on Tuesday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 38.00 and a beta of 1.02. MannKind has a 52-week low of $3.63 and a 52-week high of $7.63. The stock has a fifty day moving average of $4.38 and a 200 day moving average of $5.23.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company 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 32.41% and a net margin of 10.12%. The firm's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Equities analysts forecast that MannKind will post 0.1 earnings per share 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.

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