Brokerages Set MannKind Corporation (NASDAQ:MNKD) Target Price at $10.33

Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Five 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 target among brokerages that have covered the stock in the last year is $10.33.

Several research firms have recently weighed in on MNKD. Mizuho initiated 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. Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Finally, Wall Street Zen raised shares of MannKind from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th.

Insider Buying and Selling at MannKind

In other MannKind news, Director Steven B. Binder sold 12,078 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $4.40, for a total value of $53,143.20. Following the completion of the sale, the director now directly owns 989,343 shares of the company's stock, valued at $4,353,109.20. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Thomson sold 32,179 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were 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 $3,614,958.36. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,831 shares of company stock worth $846,298. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MannKind

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in MannKind by 4.4% in the 1st quarter. Rhumbline Advisers now owns 399,033 shares of the biopharmaceutical company's stock valued at $2,007,000 after buying an additional 16,807 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MannKind by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company's stock worth $3,374,000 after acquiring an additional 53,202 shares during the last quarter. Millennium Management LLC increased its position in MannKind by 68.9% during the first quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company's stock worth $29,288,000 after acquiring an additional 2,375,198 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MannKind by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company's stock worth $1,059,000 after acquiring an additional 6,079 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in MannKind by 5.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,029,319 shares of the biopharmaceutical company's stock valued at $10,207,000 after purchasing an additional 110,945 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Down 0.3%

NASDAQ MNKD traded down $0.01 on Tuesday, reaching $3.76. 7,158,773 shares of the stock traded hands, compared to its average volume of 2,419,695. MannKind has a 12 month low of $3.63 and a 12 month high of $7.63. The firm's fifty day simple moving average is $4.34 and its 200 day simple moving average is $5.19. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 37.60 and a beta of 1.02.

MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same period in the previous year, the company earned $0.05 earnings per share. MannKind's revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast 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.