MannKind (NASDAQ:MNKD) Coverage Initiated by Analysts at Leerink Partners

Equities research analysts at Leerink Partners started coverage on shares of MannKind (NASDAQ:MNKD) in a report released on Thursday, Marketbeat.com reports. The firm set an “outperform” rating and a $7.00 price target on the biopharmaceutical company’s stock. Leerink Partners’ price objective suggests a potential upside of 35.00% from the company’s current price.

Several other analysts also recently weighed in on MNKD. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Royal Bank Of Canada cut their price target on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price target on MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MannKind in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.21.

MannKind Stock Down 1.2%

MNKD stock traded down $0.07 during midday trading on Thursday, hitting $5.19. 1,108,343 shares of the company traded hands, compared to its average volume of 3,085,271. MannKind has a twelve month low of $3.38 and a twelve month high of $7.44. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 47.14 and a beta of 1.11. The business has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $4.58.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. MannKind’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. Equities research analysts forecast that MannKind will post 0.1 EPS for the current year.

Insider Transactions at MannKind

In other MannKind news, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $5.34, for a total transaction of $250,980.00. Following the transaction, the insider owned 1,032,013 shares in the company, valued at $5,510,949.42. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MannKind

Several institutional investors have recently made changes to their positions in MNKD. Level Four Advisory Services LLC grew its position in MannKind by 12.5% during the third quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,925 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of MannKind by 11.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 24,667 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,628 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of MannKind by 9.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,913 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 2,739 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of MannKind by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 77,726 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 3,506 shares during the period. Finally, Palumbo Wealth Management LLC raised its stake in MannKind by 4.0% in the second quarter. Palumbo Wealth Management LLC now owns 101,438 shares of the biopharmaceutical company’s stock valued at $379,000 after purchasing an additional 3,921 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

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.