MannKind (NASDAQ:MNKD) Upgraded at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a research note published on Monday.

MNKD has been the subject of several other reports. Leerink Partners initiated coverage on MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Oppenheimer increased their target price on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Down 1.7 %

MNKD opened at $6.96 on Monday. The business has a 50 day moving average price of $6.60 and a two-hundred day moving average price of $5.63. The company has a market cap of $1.92 billion, a PE ratio of 99.43 and a beta of 1.30. MannKind has a 52 week low of $3.17 and a 52 week high of $7.63.

Insider Buying and Selling

In related news, insider Stuart A. Tross sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.33, for a total value of $506,400.00. Following the sale, the insider now owns 1,047,191 shares in the company, valued at $6,628,719.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MannKind news, CEO Michael Castagna sold 85,106 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the sale, the chief executive officer now owns 2,294,836 shares in the company, valued at approximately $14,457,466.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart A. Tross sold 80,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the sale, the insider now owns 1,047,191 shares in the company, valued at approximately $6,628,719.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,161 shares of company stock worth $1,632,795 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

Large investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in MannKind during the 1st quarter valued at $450,000. International Assets Investment Management LLC boosted its holdings in shares of MannKind by 511.6% during the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock worth $558,000 after purchasing an additional 74,189 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MannKind during the third quarter worth $546,000. Bank of New York Mellon Corp boosted its holdings in shares of MannKind by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after purchasing an additional 115,390 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of MannKind by 189.8% during the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after purchasing an additional 3,107,598 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.