MannKind (NASDAQ:MNKD) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of MannKind (NASDAQ:MNKD) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald raised their price target on shares of MannKind from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial cut their price objective on shares of MannKind from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings restated a “sell (d)” rating on shares of MannKind in a research report on Friday, October 2nd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MannKind presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

MannKind Price Performance

MNKD opened at $3.90 on Friday. The business has a fifty day simple moving average of $3.55 and a 200 day simple moving average of $3.71. The company has a market capitalization of $1.25 billion, a PE ratio of -16.96 and a beta of 1.10. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.05. The firm had revenue of $101.87 million for the quarter, compared to the consensus estimate of $107.74 million. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Equities analysts anticipate that MannKind will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven Binder sold 39,051 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $3.29, for a total transaction of $128,477.79. Following the sale, the director directly owned 713,258 shares of the company’s stock, valued at approximately $2,346,618.82. This represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in MannKind by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock valued at $33,419,000 after buying an additional 4,561,628 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in shares of MannKind by 11.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock worth $28,116,000 after acquiring an additional 700,000 shares during the period. TSP Capital Management Group LLC lifted its holdings in shares of 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 worth $16,304,000 after acquiring an additional 207,850 shares during the period. Braidwell LP bought a new stake in shares of MannKind during the 2nd quarter worth approximately $14,733,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of MannKind by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock worth $12,134,000 after acquiring an additional 509,692 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

More MannKind News

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: Analysts raised price targets. Cantor Fitzgerald lifted its target to $10 from $8 and maintained an “overweight” rating. RBC raised its target to $5 from $4.75, while keeping a “sector perform” rating. Cantor Fitzgerald analyst information RBC price target report
• Positive Sentiment: Longer-term revenue and profitability outlook. MannKind expects its United Therapeutics agreement to generate about $1 billion in revenue from 2027 through 2030, and is targeting profitability in the fourth quarter. United Therapeutics deal and profitability outlook
• Neutral Sentiment: Quarterly results were mixed. MannKind’s revenue rose 24% year over year to $101.87 million, and its reported loss per share was narrower than the consensus estimate. MannKind third-quarter results
• Negative Sentiment: Revenue missed expectations, and the company remained loss-making. Sales of $101.87 million were below analysts’ $107.74 million estimate, while EPS was down from a profit in the year-ago quarter. Q3 loss and revenue miss

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).