MannKind (NASDAQ:MNKD) Receives Buy Rating from HC Wainwright

MannKind (NASDAQ:MNKD)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 100.18% from the company’s previous close.

A number of other analysts have also recently commented on the company. Truist Financial set a $9.00 price objective on MannKind in a research report on Monday, November 24th. Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research raised shares of MannKind from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Wells Fargo & Company reduced their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada lowered their target price on shares of MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.06.

MannKind Stock Performance

MannKind stock traded up $0.04 during midday trading on Monday, reaching $5.50. The company’s stock had a trading volume of 839,164 shares, compared to its average volume of 4,007,044. MannKind has a fifty-two week low of $3.38 and a fifty-two week high of $6.51. The stock’s 50 day simple moving average is $5.61 and its 200 day simple moving average is $5.09. The firm has a market capitalization of $1.69 billion, a PE ratio of 54.91 and a beta of 0.81.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The firm had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. During the same period last year, the business posted $0.04 EPS. MannKind’s quarterly revenue was up 17.1% on a year-over-year basis. Equities analysts predict that MannKind will post 0.1 earnings per share for the current year.

Insider Transactions at MannKind

In other news, EVP Sanjay R. Singh sold 18,777 shares of MannKind stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the transaction, the executive vice president directly owned 455,211 shares of the company’s stock, valued at $2,289,711.33. The trade was a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Castagna sold 65,804 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $6.01, for a total value of $395,482.04. Following the sale, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at $15,053,799.92. The trade was a 2.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 281,623 shares of company stock worth $1,641,289 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Calamos Advisors LLC acquired a new stake in shares of MannKind during the third quarter valued at about $1,240,000. Los Angeles Capital Management LLC boosted its holdings in MannKind by 68.3% in the second quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock valued at $1,636,000 after purchasing an additional 177,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock valued at $28,494,000 after purchasing an additional 831,478 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in MannKind by 11.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company’s stock valued at $15,424,000 after purchasing an additional 290,276 shares in the last quarter. Finally, TSP Capital Management Group LLC increased its holdings in MannKind by 7.2% during the 2nd quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock worth $11,155,000 after purchasing an additional 201,225 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug?delivery platform, which is designed to enable rapid absorption of small?molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid?acting alternative to traditional injectable insulins.

Afrezza received U.S.