Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have earned an average recommendation of "Buy" from the eight research 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 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.7143.
Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of MannKind from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HC Wainwright raised shares of MannKind to a "buy" rating and set a $9.00 price target for the company in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada decreased their price target on shares of MannKind from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th.
Read Our Latest Report on MannKind
MannKind Trading Up 0.8%
Shares of MannKind stock traded up $0.03 during trading hours on Wednesday, reaching $3.73. 3,126,396 shares of the company's stock were exchanged, compared to its average volume of 2,384,157. MannKind has a 52-week low of $3.38 and a 52-week high of $7.63. The company has a fifty day moving average of $3.81 and a 200-day moving average of $4.57. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 33.91 and a beta of 1.02.
MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%. The firm had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.82 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that MannKind will post 0.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In other MannKind news, Director Steven B. Binder sold 75,367 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $3.94, for a total transaction of $296,945.98. Following the completion of the sale, the director directly owned 830,508 shares in the company, valued at $3,272,201.52. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 153,875 shares of company stock valued at $616,771 in the last 90 days. Company insiders own 2.70% of the company's stock.
Hedge Funds Weigh In On MannKind
Several hedge funds and other institutional investors have recently made changes to their positions in MNKD. Scopia Capital Management LP acquired a new stake in MannKind in the 2nd quarter valued at $2,599,000. Man Group plc boosted its position in shares of MannKind by 42.5% in the second quarter. Man Group plc now owns 898,164 shares of the biopharmaceutical company's stock worth $3,359,000 after buying an additional 267,885 shares during the period. Manatuck Hill Partners LLC boosted its position in shares of MannKind by 17.6% in the second quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the biopharmaceutical company's stock worth $1,870,000 after buying an additional 75,000 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of MannKind in the second quarter valued at about $771,000. Finally, PDT Partners LLC raised its holdings in shares of MannKind by 141.0% during the 2nd quarter. PDT Partners LLC now owns 212,380 shares of the biopharmaceutical company's stock valued at $794,000 after buying an additional 124,262 shares during the period. Institutional investors and hedge funds own 49.55% of the company's stock.
About MannKind
(
Get Free Report)
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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