MannKind (NASDAQ:MNKD) Upgraded by Wall Street Zen to "Buy" Rating

MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also weighed in on MNKD. Mizuho assumed coverage on MannKind in a report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target on the stock. Wedbush restated an "outperform" rating and set a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $10.33.

MannKind Stock Down 3.1%

Shares of NASDAQ:MNKD opened at $3.71 on Friday. MannKind has a 52 week low of $3.70 and a 52 week high of $7.63. The stock has a market capitalization of $1.13 billion, a P/E ratio of 53.00 and a beta of 1.02. The firm has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $5.37.

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 for the quarter, beating the consensus estimate of $0.03 by $0.01. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same quarter in the prior year, the firm posted $0.05 EPS. MannKind's quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts expect that MannKind will post 0.1 earnings per share for the current year.

Insider Activity at MannKind

In other news, Director Steven B. Binder sold 12,078 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total transaction of $53,143.20. Following the transaction, the director now owns 989,343 shares of the company's stock, valued at approximately $4,353,109.20. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Thomson sold 32,179 shares of MannKind stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the sale, the executive vice president now owns 772,427 shares of the company's stock, valued at $3,614,958.36. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,831 shares of company stock worth $846,298. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. GF Fund Management CO. LTD. purchased a new stake in shares of MannKind in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp increased its holdings in MannKind by 3,294.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 6,392 shares during the period. Blueshift Asset Management LLC bought a new position in MannKind in the first quarter worth approximately $51,000. Sowell Financial Services LLC purchased a new stake in MannKind during the first quarter worth $56,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in MannKind during the 4th quarter valued at $65,000. 49.55% of the stock is currently owned by institutional investors.

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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