MannKind Corporation (NASDAQ:MNKD) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Ten analysts assign MannKind an average "Moderate Buy" rating (7 buy, 2 hold, 1 sell) with a 1‑year average price target of $8.56.
• Insider purchase: CEO Michael Castagna bought 100,000 shares at $2.59 on March 10, increasing his holdings to 2,575,911 shares (a 4.04% rise); insiders own 2.70% of the company.
• Quarterly results and valuation: MannKind missed EPS (loss of $0.05 vs. -$0.01 expected) but beat revenue at $111.96M (up 45.8% YoY); the stock trades around $2.84 with a market cap of ~$877M and a PE of 142.

Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.5625.

MNKD has been the subject of several research analyst reports. Weiss Ratings downgraded shares of MannKind from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of MannKind from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Wedbush decreased their price objective on shares of MannKind from $10.00 to $8.00 and set an "outperform" rating for the company in a research note on Thursday, March 5th. HC Wainwright restated a "buy" rating and issued a $11.00 price objective on shares of MannKind in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company decreased their price objective on shares of MannKind from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Friday, February 27th.

Insider Activity at MannKind

In other MannKind news, CEO Michael Castagna bought 100,000 shares of MannKind stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $2.59 per share, with a total value of $259,000.00. Following the completion of the acquisition, the chief executive officer owned 2,575,911 shares of the company's stock, valued at approximately $6,671,609.49. This represents a 4.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of MannKind by 108.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 2,927 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MannKind in the fourth quarter valued at about $45,000. Huntington National Bank raised its holdings in shares of MannKind by 420.0% in the fourth quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company's stock valued at $59,000 after buying an additional 8,400 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of MannKind in the fourth quarter valued at about $59,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of MannKind in the fourth quarter valued at about $60,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Price Performance

NASDAQ MNKD opened at $2.84 on Monday. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The company has a market capitalization of $876.98 million, a PE ratio of 142.07 and a beta of 1.04. The company has a fifty day moving average of $3.39 and a two-hundred day moving average of $4.80.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). MannKind had a net margin of 1.68% and a negative return on equity of 11.21%. The company had revenue of $111.96 million during the quarter, compared to analyst estimates of $99.85 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business's revenue was up 45.8% on a year-over-year basis. On average, research analysts expect that MannKind will post 0.1 earnings per share for the current year.

About MannKind

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company's core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind's lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.

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