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 been given an average recommendation of "Buy" by the six analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.1667.

A number of equities analysts have recently commented on MNKD shares. Oppenheimer lifted their price target on shares of MannKind from $12.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. HC Wainwright boosted their target price on shares of MannKind from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada upped their price target on shares of MannKind from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Wells Fargo & Company boosted their price objective on MannKind from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen lowered MannKind from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 75,367 shares of MannKind stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total value of $296,945.98. Following the completion of the transaction, the director owned 830,508 shares in the company, valued at approximately $3,272,201.52. The trade was a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of MannKind

A number of institutional investors have recently bought and sold shares of MNKD. Quaker Wealth Management LLC grew its holdings in shares of MannKind by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 14,000 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of MannKind by 1,379.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 6,896 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of MannKind during the 4th quarter worth approximately $37,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of MannKind during the 2nd quarter worth about $42,000. Finally, Master S Wealth Management Inc. acquired a new stake in shares of MannKind during the second quarter worth $44,000. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Performance

Shares of MNKD stock traded down $0.15 during trading on Friday, hitting $5.42. 3,997,387 shares of the company were exchanged, compared to its average volume of 5,354,007. The business's 50-day simple moving average is $4.15 and its 200 day simple moving average is $4.43. MannKind has a twelve month low of $3.38 and a twelve month high of $7.63. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 49.28 and a beta of 1.02.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $77.82 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. On average, 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.