MannKind (NASDAQ:MNKD) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a report released on Friday.

Other analysts also recently issued reports about the company. Leerink Partners began coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. Oppenheimer lifted their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MannKind has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Price Performance

NASDAQ:MNKD opened at $6.78 on Friday. The company’s 50-day moving average is $6.71 and its two-hundred day moving average is $5.81. MannKind has a 1-year low of $3.17 and a 1-year high of $7.63. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 94.43 and a beta of 1.30.

Insiders Place Their Bets

In related news, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 215,075 shares of company stock worth $1,482,087 in the last ninety days. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of MannKind

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in MannKind by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 172,054 shares of the biopharmaceutical company’s stock worth $780,000 after buying an additional 9,410 shares during the period. 180 Wealth Advisors LLC raised its position in MannKind by 4.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock valued at $11,411,000 after purchasing an additional 91,924 shares during the last quarter. Brookstone Capital Management acquired a new stake in MannKind during the 2nd quarter worth $61,000. Hennion & Walsh Asset Management Inc. grew its position in MannKind by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company’s stock worth $1,312,000 after purchasing an additional 15,423 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in MannKind by 82.5% in the second quarter. Aaron Wealth Advisors LLC now owns 176,998 shares of the biopharmaceutical company’s stock valued at $924,000 after purchasing an additional 80,000 shares during the period. Hedge funds and other institutional investors own 49.55% of the company’s stock.

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.