MannKind’s (MNKD) “Buy” Rating Reaffirmed at HC Wainwright

MannKind (NASDAQ:MNKD)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $11.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 199.65% from the company’s current price.

MNKD has been the topic of a number of other research reports. Royal Bank Of Canada cut their target price on MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Truist Financial set a $9.00 price objective on MannKind in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research note on Thursday, January 22nd. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.06.

MannKind Stock Performance

Shares of MannKind stock traded down $1.87 on Wednesday, reaching $3.67. The company had a trading volume of 20,990,043 shares, compared to its average volume of 3,973,733. The firm’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $5.38. MannKind has a 52-week low of $3.29 and a 52-week high of $6.51. The firm has a market cap of $1.13 billion, a PE ratio of 36.15 and a beta of 0.84.

Insider Buying and Selling at MannKind

In other MannKind news, CEO Michael Castagna sold 107,920 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $5.57, for a total transaction of $601,114.40. Following the sale, the chief executive officer owned 2,504,792 shares in the company, valued at $13,951,691.44. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stuart A. Tross sold 47,006 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $6.33, for a total value of $297,547.98. Following the completion of the sale, the insider directly owned 985,007 shares in the company, valued at $6,235,094.31. This represents a 4.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 262,846 shares of company stock valued at $1,546,840 over the last three months. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in MannKind by 108.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 2,927 shares in the last quarter. Quaker Wealth Management LLC lifted its position in shares of MannKind by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 14,000 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MannKind during the fourth quarter worth $45,000. Huntington National Bank grew its stake in shares of MannKind by 420.0% during the fourth quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new position in MannKind in the fourth quarter valued at $59,000. 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.