MannKind (NASDAQ:MNKD) Reaches New 1-Year Low – Should You Sell?

MannKind Co. (NASDAQ:MNKD)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $3.70 and last traded at $3.77, with a volume of 212708 shares trading hands. The stock had previously closed at $3.81.

Analyst Ratings Changes

Several research firms have recently commented on MNKD. 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. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Finally, Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.33.

MannKind Stock Performance

The business’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $5.33. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 53.64 and a beta of 1.02.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same period last year, the business posted $0.05 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, analysts forecast that MannKind Co. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other MannKind news, Director Steven B. Binder sold 64,085 shares of MannKind stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $4.00, for a total value of $256,340.00. Following the sale, the director now owns 925,258 shares of the company’s stock, valued at approximately $3,701,032. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Thomson sold 32,179 shares of MannKind stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 772,427 shares in the company, valued at approximately $3,614,958.36. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,831 shares of company stock valued at $846,298 over the last three months. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of MannKind during the 4th quarter valued at $37,000. Jones Financial Companies Lllp raised its stake 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 last quarter. Blueshift Asset Management LLC bought a new stake in shares of MannKind in the 1st quarter worth $51,000. Sowell Financial Services LLC bought a new stake in shares of MannKind in the first quarter worth $56,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in MannKind during the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.