MannKind Co. (NASDAQ:MNKD) Given Consensus Rating of “Buy” by Analysts

Shares of MannKind Co. (NASDAQ:MNKD) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.67.

MNKD has been the subject of several analyst reports. Oppenheimer raised their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday. Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Leerink Partners initiated coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 price target for the company.

Insider Buying and Selling at MannKind

In other news, insider Stuart A. Tross sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the sale, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven B. Binder sold 67,536 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This trade represents a 5.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,075 shares of company stock worth $1,325,587 over the last three months. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of MannKind by 0.4% in the 3rd quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock worth $60,366,000 after buying an additional 40,338 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 in the last quarter. Millennium Management LLC boosted its stake in shares of MannKind by 189.8% in the 2nd quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after purchasing an additional 3,107,598 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in shares of MannKind by 37.1% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after purchasing an additional 894,486 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of MannKind by 60.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after purchasing an additional 1,000,600 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

Shares of MannKind stock opened at $6.67 on Friday. MannKind has a fifty-two week low of $3.17 and a fifty-two week high of $7.63. The firm has a market capitalization of $1.84 billion, a P/E ratio of 95.29 and a beta of 1.28. The company’s 50 day moving average price is $6.76 and its two-hundred day moving average price is $5.94.

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.