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

HC Wainwright reiterated their buy rating on shares of MannKind (NASDAQ:MNKD) in a research note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Truist Financial set a $9.00 target price on shares of MannKind in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research report on Thursday, January 22nd. Zacks Research raised shares of MannKind from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company decreased their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $10.06.

MannKind Stock Performance

Shares of MannKind stock opened at $5.64 on Monday. The company has a fifty day moving average of $5.65 and a 200-day moving average of $5.12. MannKind has a 52-week low of $3.38 and a 52-week high of $6.51. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 56.40 and a beta of 0.81.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $82.13 million for the quarter, compared to the consensus estimate of $80.47 million. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, equities research analysts forecast that MannKind will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at MannKind

In other news, CEO Michael Castagna sold 107,920 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $5.57, for a total value of $601,114.40. Following the completion of the transaction, the chief executive officer owned 2,504,792 shares in the company, valued at $13,951,691.44. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of MannKind stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $5.03, for a total value of $94,448.31. Following the sale, the executive vice president owned 455,211 shares in the company, valued at $2,289,711.33. This represents a 3.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 281,623 shares of company stock valued at $1,641,289. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of MannKind

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Calamos Advisors LLC purchased a new position in MannKind in the 3rd quarter worth approximately $1,240,000. Los Angeles Capital Management LLC grew its holdings in MannKind by 68.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock valued at $1,636,000 after buying an additional 177,440 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock worth $28,494,000 after buying an additional 831,478 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of MannKind by 11.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company’s stock valued at $15,424,000 after buying an additional 290,276 shares in the last quarter. Finally, TSP Capital Management Group LLC lifted its position in MannKind by 7.2% in the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock worth $11,155,000 after buying an additional 201,225 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

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.