MannKind’s (MNKD) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of MannKind (NASDAQ:MNKD) in a research report released on Tuesday,Benzinga reports. They currently have a $8.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Chardan Capital began coverage on shares of MannKind in a research report on Monday. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of MannKind in a research note on Friday, October 2nd. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Truist Financial cut their price target on MannKind from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Finally, HC Wainwright reissued a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MannKind has an average rating of “Moderate Buy” and a consensus target price of $8.08.

MannKind Stock Up 4.9%

Shares of NASDAQ MNKD opened at $3.20 on Tuesday. The firm has a market cap of $1.03 billion, a PE ratio of -24.62 and a beta of 1.09. MannKind has a 12-month low of $2.23 and a 12-month high of $6.51. The company’s fifty day simple moving average is $3.67 and its 200 day simple moving average is $3.59.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $109.37 million during the quarter, compared to analyst estimates of $108.08 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. On average, equities analysts predict that MannKind will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In other MannKind news, Director Steven Binder sold 39,051 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $4.06, for a total transaction of $158,547.06. Following the transaction, the director owned 785,867 shares in the company, valued at approximately $3,190,620.02. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 111,660 shares of company stock worth $414,881 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MannKind

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of MannKind by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock worth $33,419,000 after acquiring an additional 4,561,628 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in MannKind by 11.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock valued at $28,116,000 after acquiring an additional 700,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MannKind by 11.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock valued at $12,134,000 after acquiring an additional 509,692 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in MannKind by 45.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after purchasing an additional 1,332,759 shares during the last quarter. Finally, TSP Capital Management Group LLC boosted its stake in MannKind by 5.2% during the 3rd quarter. TSP Capital Management Group LLC now owns 4,180,525 shares of the biopharmaceutical company’s stock valued at $16,304,000 after purchasing an additional 207,850 shares during the last quarter. 49.55% of the stock is owned by institutional investors.

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).