MannKind (NASDAQ:MNKD) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of MannKind (NASDAQ:MNKDFree Report) from a buy rating to a hold rating in a report issued on Saturday.

Several other research firms have also recently weighed in on MNKD. Oppenheimer boosted their price objective on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Leerink Partners assumed coverage on MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.67.

View Our Latest Stock Report on MNKD

MannKind Trading Up 1.0 %

MNKD opened at $6.80 on Friday. MannKind has a 1-year low of $3.17 and a 1-year high of $7.63. The stock has a market capitalization of $1.88 billion, a PE ratio of 97.14 and a beta of 1.28. The firm has a 50-day moving average price of $6.75 and a two-hundred day moving average price of $5.91.

Insider Activity at MannKind

In other news, Director Steven B. Binder sold 67,539 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $6.76, for a total value of $456,563.64. Following the completion of the sale, the director now directly owns 1,075,026 shares of the company’s stock, valued at $7,267,175.76. This represents a 5.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stuart A. Tross sold 55,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the sale, the insider now owns 967,191 shares in the company, valued at $7,099,181.94. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,075 shares of company stock worth $1,325,587. 3.00% of the stock is owned by insiders.

Institutional Trading of MannKind

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in MannKind by 3.0% in the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock valued at $1,047,000 after acquiring an additional 4,603 shares during the period. Geode Capital Management LLC grew its position in shares of MannKind by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock valued at $39,880,000 after purchasing an additional 24,031 shares during the period. Barclays PLC raised its holdings in MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock worth $3,271,000 after buying an additional 338,121 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in MannKind during the 3rd quarter worth approximately $413,000. Finally, XTX Topco Ltd lifted its stake in MannKind by 104.4% in the third quarter. XTX Topco Ltd now owns 45,248 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 23,111 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

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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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Analyst Recommendations for MannKind (NASDAQ:MNKD)

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