Wall Street Zen Downgrades MannKind (NASDAQ:MNKD) to Sell

Key Points

• Wall Street Zen downgraded MannKind from “hold” to “sell,” adding to a mixed analyst picture that still shows a consensus of Moderate Buy with an average price target of $8.84.
• MannKind’s latest quarterly results were weaker than expected, with EPS of -$0.05 versus the expected -$0.02 and revenue of $90.17 million below consensus estimates of $105.38 million.
• Despite the soft quarter, there are still bullish signals around the stock: CEO Michael Castagna bought 100,000 shares, and some analysts, including HC Wainwright and RBC, recently raised price targets.

MannKind (NASDAQ:MNKD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of MannKind from a "hold (c)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. HC Wainwright boosted their price objective on shares of MannKind from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday. Wedbush cut their price objective on shares of MannKind from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, March 5th. Zacks Research raised shares of MannKind from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of MannKind from $3.50 to $4.75 and gave the company a "sector perform" rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $8.84.

MannKind Price Performance

Shares of MNKD stock opened at $3.52 on Friday. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The firm has a fifty day moving average price of $2.73 and a 200-day moving average price of $4.59. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -50.28 and a beta of 1.04.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The business had revenue of $90.17 million for the quarter, compared to the consensus estimate of $105.38 million. During the same period in the previous year, the firm earned $0.04 EPS. The company's revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that MannKind will post -0.02 EPS for the current year.

Insider Activity

In other MannKind news, CEO Michael Castagna bought 100,000 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $259,000.00. Following the transaction, the chief executive officer owned 2,575,911 shares of the company's stock, valued at $6,671,609.49. This represents a 4.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On MannKind

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in MannKind by 108.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 2,927 shares during the last quarter. International Assets Investment Management LLC bought a new position in MannKind in the 4th quarter worth about $45,000. Huntington National Bank grew its stake in MannKind by 420.0% in the 4th quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company's stock worth $59,000 after acquiring an additional 8,400 shares in the last quarter. Burkett Financial Services LLC bought a new position in MannKind in the 4th quarter worth about $59,000. Finally, Laurel Wealth Advisors LLC bought a new position in MannKind in the 4th quarter worth about $60,000. 49.55% of the stock is currently owned by institutional investors.

Trending Headlines about MannKind

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: MannKind said it is targeting $110 million to $120 million in 2026 FUROSCIX revenue, which suggests management sees continued commercial growth ahead as key regulatory catalysts approach. Article Title
• Positive Sentiment: RBC raised its price target on MannKind to $4.75 from $3.50, indicating some analysts still see upside despite near-term earnings volatility.
• Neutral Sentiment: TipRanks highlighted that MannKind’s earnings call focused on growth initiatives and navigating earnings volatility, reinforcing that the investment case is now being driven more by future execution than the recent quarter. Article Title
• Neutral Sentiment: MannKind’s Q1 earnings presentation and earnings snapshot provided additional detail on results, but did not change the core takeaway that the quarter was softer than expected. Article Title Article Title
• Negative Sentiment: MannKind reported a Q1 loss of $0.05 per share, wider than the expected $0.02 loss, and revenue of $90.17 million came in below consensus, prompting a negative reaction in the stock. Article Title
• Negative Sentiment: Mizuho cut its price target to $7.00 from $8.00, reflecting some caution ahead of upcoming regulatory and commercial milestones. Article Title

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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