MannKind (NASDAQ:MNKD) Trading Up 4.9%

MannKind Co. (NASDAQ:MNKDGet Free Report) was up 4.9% during mid-day trading on Monday . The company traded as high as $5.38 and last traded at $5.38. Approximately 891,918 shares were traded during trading, a decline of 67% from the average daily volume of 2,716,542 shares. The stock had previously closed at $5.13.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MNKD shares. Rodman & Renshaw started coverage on shares of MannKind in a research note on Thursday, June 13th. They set a “buy” rating and a $8.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 price target on shares of MannKind in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Check Out Our Latest Research Report on MNKD

MannKind Price Performance

The firm’s 50 day moving average is $4.79 and its two-hundred day moving average is $4.27. The firm has a market capitalization of $1.51 billion, a P/E ratio of 184.39 and a beta of 1.32.

MannKind (NASDAQ:MNKDGet Free Report) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. MannKind had a net margin of 3.78% and a negative return on equity of 3.35%. The business had revenue of $66.26 million during the quarter, compared to analysts’ expectations of $60.55 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue was up 63.1% on a year-over-year basis. Analysts anticipate that MannKind Co. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at MannKind

In other MannKind news, EVP David Thomson sold 23,537 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $4.66, for a total transaction of $109,682.42. Following the completion of the sale, the executive vice president now owns 873,616 shares of the company’s stock, valued at approximately $4,071,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

A number of hedge funds and other institutional investors have recently modified their holdings of MNKD. 9258 Wealth Management LLC acquired a new position in shares of MannKind in the first quarter worth approximately $51,000. AJOVista LLC acquired a new position in shares of MannKind during the fourth quarter worth approximately $71,000. EntryPoint Capital LLC raised its position in shares of MannKind by 60.9% during the first quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 9,008 shares during the period. Bailard Inc. bought a new stake in MannKind during the fourth quarter worth $112,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in MannKind by 352.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,180 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 24,288 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

(Get Free Report)

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.

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