MannKind Corporation (NASDAQ:MNKD – Get Free Report) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $8.8438.
MNKD has been the subject of several recent analyst reports. Wall Street Zen cut shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wedbush reduced their price target on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Royal Bank Of Canada lifted their price objective on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Mizuho dropped their target price on MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, HC Wainwright increased their target price on MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th.
Read Our Latest Research Report on MannKind
MannKind Trading Up 1.8%
MannKind (NASDAQ:MNKD – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $90.17 million for the quarter, compared to analysts’ expectations of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. On average, equities research analysts forecast that MannKind will post -0.04 earnings per share for the current fiscal year.
Insider Transactions at MannKind
In related news, CEO Michael Castagna acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $259,000.00. Following the acquisition, the chief executive officer directly owned 2,575,911 shares in the company, valued at approximately $6,671,609.49. The trade was a 4.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven B. Binder sold 16,940 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total transaction of $55,732.60. Following the transaction, the director directly owned 808,008 shares of the company’s stock, valued at $2,658,346.32. This trade represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in MNKD. AQR Capital Management LLC grew its position in MannKind by 19.8% during the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 9,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MannKind by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock valued at $1,059,000 after purchasing an additional 6,079 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MannKind by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock worth $3,374,000 after purchasing an additional 53,202 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of MannKind by 42.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,352,017 shares of the biopharmaceutical company’s stock worth $5,057,000 after purchasing an additional 404,842 shares during the period. Finally, Prudential Financial Inc. increased its position in MannKind by 84.8% during the 2nd quarter. Prudential Financial Inc. now owns 37,381 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 17,150 shares in the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.
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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