MannKind Co. (NASDAQ:MNKD) Receives Consensus Recommendation of “Buy” from Analysts

MannKind Co. (NASDAQ:MNKD) has received a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.67.

A number of research analysts have recently commented on the company. Oppenheimer increased their price objective on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Leerink Partners assumed coverage on MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective on the stock. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a report on Monday, September 9th.

MannKind Stock Performance

MNKD opened at $6.80 on Monday. MannKind has a one year low of $3.17 and a one year high of $7.63. The company has a market cap of $1.88 billion, a P/E ratio of 97.14 and a beta of 1.30. The business’s 50-day simple moving average is $6.64 and its 200-day simple moving average is $5.68.

Insiders Place Their Bets

In other MannKind news, CEO Michael Castagna sold 85,106 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at approximately $14,457,466.80. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stuart A. Tross sold 80,000 shares of the 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 directly owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. The trade was a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,161 shares of company stock valued at $1,632,795. 3.00% of the stock is owned by company insiders.

Institutional Trading of MannKind

A number of hedge funds have recently added to or reduced their stakes in MNKD. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MannKind by 5.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 186,532 shares of the biopharmaceutical company’s stock valued at $845,000 after buying an additional 9,998 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MannKind in the 1st quarter valued at approximately $450,000. ProShare Advisors LLC lifted its holdings in shares of MannKind by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 65,811 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 5,416 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of MannKind by 60.9% in the 1st quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 9,008 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of MannKind by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 172,054 shares of the biopharmaceutical company’s stock valued at $780,000 after buying an additional 9,410 shares during the period. 49.55% of the stock is 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.