MannKind (NASDAQ:MNKD) Research Coverage Started at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of MannKind (NASDAQ:MNKD) in a report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $8.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on MNKD. Wedbush restated an outperform rating and issued a $10.00 target price on shares of MannKind in a research note on Wednesday, February 28th. Cantor Fitzgerald restated an overweight rating and issued a $6.50 target price on shares of MannKind in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $8.00.

MannKind Stock Performance

Shares of MannKind stock opened at $4.80 on Thursday. MannKind has a 1 year low of $3.17 and a 1 year high of $5.75. The company has a market capitalization of $1.31 billion, a P/E ratio of 160.05 and a beta of 1.27. The company’s fifty day moving average is $4.46 and its two-hundred day moving average is $4.08.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. MannKind had a net margin of 3.78% and a negative return on equity of 3.35%. The company had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. During the same period last year, the firm posted ($0.04) EPS. MannKind’s revenue for the quarter was up 63.1% on a year-over-year basis. As a group, equities analysts expect that MannKind will post 0.1 earnings per share for the current year.

Insider Activity at MannKind

In related news, EVP David Thomson sold 23,537 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $4.66, for a total value of $109,682.42. Following the completion of the sale, the executive vice president now owns 873,616 shares in the company, valued at $4,071,050.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Trading of MannKind

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 9258 Wealth Management LLC purchased a new position in MannKind during the 1st quarter valued at about $51,000. AJOVista LLC purchased a new position in MannKind during the 4th quarter valued at about $71,000. C M Bidwell & Associates Ltd. purchased a new position in MannKind during the 3rd quarter valued at about $106,000. EntryPoint Capital LLC increased its holdings in MannKind by 60.9% during the 1st quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 9,008 shares in the last quarter. Finally, Bailard Inc. purchased a new position in MannKind during the 4th quarter valued at about $112,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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.