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

Key Points

• Analysts have a “Moderate Buy” consensus on MannKind, with seven buy, two hold and one sell rating. The average 12-month price target is $9.22, compared with the stock’s recent price of $4.15.
• MannKind reported quarterly revenue of $109.37 million, up 43% year over year and above estimates, while adjusted earnings of a $0.01 loss per share matched expectations. Analysts forecast a full-year loss of approximately $0.20 per share.
• Institutional investors and hedge funds own 49.55% of the company, while insiders own 2.60%; director Steven B. Binder recently sold 39,051 shares for approximately $158,547.

Shares of MannKind Corporation (NASDAQ:MNKD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.2188.

A number of brokerages recently commented on MNKD. Wells Fargo & Company dropped their price objective on shares of MannKind from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of MannKind in a research note on Wednesday, July 8th. Mizuho lowered their target price on MannKind from $8.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on MannKind from $3.50 to $4.75 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered MannKind from a "hold" rating to a "sell" rating in a report on Saturday, August 8th.

Insider Activity

In related news, Director Steven B. Binder sold 39,051 shares of MannKind stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $4.06, for a total value of $158,547.06. Following the sale, the director owned 785,867 shares of the company's stock, valued at approximately $3,190,620.02. This trade represents a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On MannKind

A number of large investors have recently bought and sold shares of MNKD. Caitong International Asset Management Co. Ltd lifted its position 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 worth $32,000 after purchasing an additional 2,927 shares in the last quarter. International Assets Investment Management LLC bought a new position in MannKind in the fourth quarter valued at $45,000. Huntington National Bank grew its position in 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 purchasing an additional 8,400 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in MannKind in the 4th quarter valued at $60,000. Finally, Lido Advisors LLC acquired a new stake in MannKind in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Performance

NASDAQ MNKD opened at $4.15 on Friday. The business has a 50 day simple moving average of $4.03 and a 200 day simple moving average of $3.66. MannKind has a 52-week low of $2.23 and a 52-week high of $6.51. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -31.92 and a beta of 1.12.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $109.37 million for the quarter, compared to analyst estimates of $108.08 million. MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The business's revenue was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. On average, analysts predict that MannKind will post -0.2 EPS for the current 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).

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