MannKind Corporation (NASDAQ:MNKD) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• MannKind Corporation (NASDAQ:MNKD) has received an average recommendation of "Buy" from eight analysts, with a target price averaging $10.71.
• Recently, several analysts increased their price targets, with HC Wainwright raising theirs from $9.00 to $11.00 and Oppenheimer from $12.00 to $15.00.
• The company reported $76.53 million in revenue for the last quarter, up 5.7% year-over-year, while posting earnings of $0.05 per share.

Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have received an average recommendation of "Buy" from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.7143.

Several analysts have recently commented on the stock. HC Wainwright increased their target price on shares of MannKind from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada raised their price objective on shares of MannKind from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Oppenheimer raised their price objective on shares of MannKind from $12.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday. Wells Fargo & Company raised their price objective on shares of MannKind from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen downgraded shares of MannKind from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

MannKind Price Performance

Shares of MNKD stock opened at $5.54 on Friday. The firm has a 50-day moving average of $4.00 and a 200-day moving average of $4.43. The company has a market cap of $1.70 billion, a P/E ratio of 50.37 and a beta of 1.02. MannKind has a one year low of $3.38 and a one year high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last announced 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. The company had revenue of $76.53 million during the quarter, compared to the consensus estimate of $77.82 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share. As a group, research analysts expect that MannKind will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at MannKind

In related news, Director Steven B. Binder sold 75,367 shares of the firm's stock in a transaction dated 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 owned 830,508 shares in the company, valued at approximately $3,272,201.52. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company's stock.

Institutional Trading of MannKind

A number of large investors have recently added to or reduced their stakes in MNKD. Quaker Wealth Management LLC increased its holdings in MannKind by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 14,000 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of MannKind by 1,379.2% in the second quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 6,896 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of MannKind in the fourth quarter worth about $37,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of MannKind in the second quarter worth about $42,000. Finally, Master S Wealth Management Inc. purchased a new position in shares of MannKind in the second quarter worth about $44,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

About MannKind

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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