MannKind (NASDAQ:MNKD) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• MannKind (NASDAQ:MNKD) received a "Hold (C)" rating from Weiss Ratings, with the stock having a consensus rating of "Moderate Buy" and an average target price of $11.17.
• In recent trading sessions, MannKind's stock price opened at $5.44, showing fluctuations within a one-year range of $3.38 to $7.63.
• Insider trading activity includes significant sales by executives, with Stuart A. Tross selling 47,000 shares and Director Steven B. Binder selling 75,367 shares in separate transactions this year.

MannKind (NASDAQ:MNKD - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on MNKD. Zacks Research raised shares of MannKind from a "strong sell" rating to a "hold" rating in a report on Monday. Oppenheimer upped their target price on shares of MannKind from $12.00 to $15.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. 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. HC Wainwright reissued a "buy" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of MannKind from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.17.

MannKind Stock Performance

NASDAQ MNKD opened at $5.44 on Wednesday. The firm has a market cap of $1.67 billion, a PE ratio of 49.46 and a beta of 1.08. MannKind has a one year low of $3.38 and a one year high of $7.63. The firm's fifty day moving average is $4.76 and its two-hundred day moving average is $4.47.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The company had revenue of $76.53 million for the quarter, compared to analyst estimates of $77.82 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. MannKind's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. Research analysts predict that MannKind will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $5.34, for a total value of $250,980.00. Following the sale, the insider owned 1,032,013 shares of the company's stock, valued at $5,510,949.42. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director directly 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 disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quaker Wealth Management LLC boosted its holdings in shares of MannKind by 200.0% in 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 period. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 6,896 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of MannKind in the second quarter worth about $42,000. Master S Wealth Management Inc. bought a new position in MannKind during the second quarter valued at approximately $44,000. Finally, Blueshift Asset Management LLC bought a new position in MannKind during the first quarter valued at approximately $51,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

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.

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