MannKind Co. (NASDAQ:MNKD) Given Consensus Rating of “Buy” by Analysts

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

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

Insider Transactions at MannKind

In other MannKind news, CEO Michael Castagna sold 85,106 shares of MannKind stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the sale, the chief executive officer now owns 2,294,836 shares in the company, valued at $14,457,466.80. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stuart A. Tross sold 80,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the completion of the transaction, the insider now owns 1,047,191 shares of the company’s stock, valued at approximately $6,628,719.03. This represents a 7.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,161 shares of company stock worth $1,632,795. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of MannKind

Several institutional investors have recently made changes to their positions in MNKD. Mirae Asset Global Investments Co. Ltd. lifted its stake in MannKind by 5.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 186,532 shares of the biopharmaceutical company’s stock worth $845,000 after purchasing an additional 9,998 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of MannKind in the 1st quarter valued at approximately $450,000. ProShare Advisors LLC raised 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 worth $298,000 after buying an additional 5,416 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of MannKind by 60.9% during the 1st quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 9,008 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Price Performance

NASDAQ MNKD opened at $6.80 on Monday. The company has a market capitalization of $1.88 billion, a P/E ratio of 97.14 and a beta of 1.30. MannKind has a 12 month low of $3.17 and a 12 month high of $7.63. The company’s 50 day simple moving average is $6.64 and its 200 day simple moving average is $5.66.

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.