MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.
Other equities analysts have also recently issued research reports about the company. Mizuho assumed coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. HC Wainwright upgraded MannKind to a "buy" rating and set a $9.00 price objective for the company in a report on Wednesday, July 16th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $10.14.
Get Our Latest Stock Report on MNKD
MannKind Stock Up 2.9%
MannKind stock traded up $0.11 during mid-day trading on Friday, hitting $3.93. 2,294,203 shares of the company's stock were exchanged, compared to its average volume of 2,433,735. The firm has a market capitalization of $1.19 billion, a P/E ratio of 39.30 and a beta of 0.96. MannKind has a fifty-two week low of $3.51 and a fifty-two week high of $7.63. The company's 50 day simple moving average is $4.02 and its 200-day simple moving average is $4.86.
MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. During the same quarter last year, the business posted $0.05 EPS. The company's revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts expect that MannKind will post 0.1 EPS for the current year.
Insider Buying and Selling at MannKind
In other news, EVP David Thomson sold 32,179 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total transaction of $150,597.72. Following the completion of the transaction, the executive vice president directly owned 772,427 shares in the company, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Binder sold 80,144 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the completion of the sale, the director directly owned 1,006,611 shares in the company, valued at approximately $4,721,005.59. This represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,198 shares of company stock valued at $1,143,244 over the last quarter. Company insiders own 3.00% of the company's stock.
Hedge Funds Weigh In On MannKind
Several institutional investors have recently made changes to their positions in MNKD. Arrowstreet Capital Limited Partnership raised its holdings in shares of MannKind by 275.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock worth $31,427,000 after acquiring an additional 3,587,484 shares during the last quarter. Nuveen LLC acquired a new stake in shares of MannKind in the 1st quarter worth about $17,011,000. Millennium Management LLC raised its holdings in shares of MannKind by 68.9% in the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company's stock worth $29,288,000 after acquiring an additional 2,375,198 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in MannKind in the 4th quarter valued at about $10,229,000. Finally, Vanguard Group Inc. increased its stake in MannKind by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company's stock valued at $87,131,000 after buying an additional 1,263,622 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.
MannKind Company Profile
(
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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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