MannKind Corporation (NASDAQ:MNKD) Stock Has Consensus Price Target of $7.84 According to Analysts

MannKind Corporation (NASDAQ:MNKD) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.84.

A number of equities analysts have recently commented on MNKD shares. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a research report on Friday, October 2nd. Wells Fargo & Company reduced their target price on shares of MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price objective on shares of MannKind in a report on Friday, September 11th. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

Insiders Place Their Bets

In other MannKind news, Director Steven Binder sold 39,051 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $3.29, for a total value of $128,477.79. Following the sale, the director directly owned 713,258 shares in the company, valued at $2,346,618.82. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 111,660 shares of company stock valued at $414,881 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc purchased a new stake in MannKind in the third quarter valued at $39,000. Corient Private Wealth LP purchased a new stake in shares of MannKind in the 2nd quarter valued at about $47,000. Allworth Financial LP lifted its holdings in shares of MannKind by 2,013.4% in the 2nd quarter. Allworth Financial LP now owns 11,074 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 10,550 shares during the last quarter. Krilogy Financial LLC acquired a new stake in shares of MannKind in the 1st quarter valued at about $28,000. Finally, Independent Financial Group LLC acquired a new position in MannKind during the first quarter worth approximately $31,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Stock Performance

Shares of MNKD opened at $3.04 on Monday. The stock has a market capitalization of $977.48 million, a PE ratio of -23.38 and a beta of 1.09. The company’s 50-day simple moving average is $3.73 and its 200-day simple moving average is $3.57. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $109.37 million for the quarter, compared to analyst estimates of $108.08 million. MannKind’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. On average, sell-side analysts predict that MannKind will post -0.20 earnings per share for the current year.

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).