HC Wainwright Reiterates Buy Rating for MannKind (NASDAQ:MNKD)

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HC Wainwright reaffirmed their buy rating on shares of MannKind (NASDAQ:MNKD) in a research note published on Thursday, AnalystRatings.com reports. HC Wainwright currently has a $2.50 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on MNKD. ValuEngine raised shares of MannKind from a sell rating to a hold rating in a report on Thursday, August 1st. BidaskClub raised shares of MannKind from a sell rating to a hold rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald assumed coverage on shares of MannKind in a report on Thursday, October 24th. They issued an overweight rating and a $3.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $2.90.

NASDAQ MNKD traded up $0.01 during trading on Thursday, hitting $1.26. The stock had a trading volume of 2,692,300 shares, compared to its average volume of 2,394,064. The stock has a market capitalization of $282.53 million, a price-to-earnings ratio of -2.14 and a beta of 2.36. The stock has a 50 day simple moving average of $1.30 and a 200 day simple moving average of $1.23. MannKind has a one year low of $0.94 and a one year high of $2.34.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $14.60 million during the quarter, compared to analysts’ expectations of $15.03 million. During the same period in the prior year, the firm posted ($0.16) earnings per share. On average, sell-side analysts expect that MannKind will post -0.29 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. Metropolitan Life Insurance Co NY purchased a new position in MannKind in the first quarter worth $117,000. Commonwealth Equity Services LLC lifted its stake in shares of MannKind by 32.0% during the second quarter. Commonwealth Equity Services LLC now owns 60,238 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 14,590 shares during the period. Creative Planning lifted its stake in shares of MannKind by 12.4% during the second quarter. Creative Planning now owns 267,212 shares of the biopharmaceutical company’s stock worth $307,000 after buying an additional 29,562 shares during the period. Dupont Capital Management Corp lifted its stake in shares of MannKind by 3.2% during the second quarter. Dupont Capital Management Corp now owns 494,200 shares of the biopharmaceutical company’s stock worth $568,000 after buying an additional 15,100 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of MannKind during the second quarter worth $259,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

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Analyst Recommendations for MannKind (NASDAQ:MNKD)

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