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

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a research note published on Monday morning.

Several other equities research analysts have also recently issued reports on MNKD. Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners began coverage on MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Finally, Oppenheimer boosted their price objective on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $8.67.

MannKind Price Performance

MNKD stock opened at $7.02 on Monday. The business’s 50-day moving average is $6.62 and its two-hundred day moving average is $5.64. MannKind has a 1 year low of $3.17 and a 1 year high of $7.63. The firm has a market capitalization of $1.94 billion, a P/E ratio of 100.29 and a beta of 1.30.

Insiders Place Their Bets

In related news, EVP Steven B. Binder sold 5,055 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stuart A. Tross sold 55,000 shares of the business’s 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 in the company, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,161 shares of company stock valued at $1,632,795 over the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Walleye Capital LLC boosted its holdings in shares of MannKind by 5.0% in the third quarter. Walleye Capital LLC now owns 818,602 shares of the biopharmaceutical company’s stock valued at $5,149,000 after acquiring an additional 39,145 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of MannKind by 421.3% in the third quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company’s stock valued at $2,968,000 after buying an additional 381,298 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of MannKind by 36.8% in the third quarter. The Manufacturers Life Insurance Company now owns 138,730 shares of the biopharmaceutical company’s stock valued at $873,000 after buying an additional 37,295 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in MannKind by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,224,829 shares of the biopharmaceutical company’s stock worth $13,994,000 after acquiring an additional 42,041 shares during the period. Finally, Intech Investment Management LLC purchased a new position in MannKind in the third quarter worth $395,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

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.