MannKind (NASDAQ:MNKD) Stock Rating Upgraded by StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other research firms also recently weighed in on MNKD. Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners started coverage on shares of MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Oppenheimer increased their target price on 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MannKind currently has a consensus rating of “Buy” and an average target price of $8.67.

MannKind Stock Performance

Shares of MNKD opened at $6.61 on Friday. MannKind has a fifty-two week low of $3.17 and a fifty-two week high of $7.63. The business has a 50-day moving average of $6.71 and a 200 day moving average of $5.81. The firm has a market cap of $1.82 billion, a P/E ratio of 94.43 and a beta of 1.30.

Insider Activity

In related news, Director Steven B. Binder sold 67,539 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $6.76, for a total value of $456,563.64. Following the completion of the sale, the director now owns 1,075,026 shares in the company, valued at $7,267,175.76. The trade was a 5.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stuart A. Tross sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total transaction of $156,500.00. Following the transaction, the insider now directly owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,075 shares of company stock worth $1,482,087. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MannKind

Several institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares during the period. National Bank of Canada FI lifted its stake in MannKind by 14.8% in the third quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,783 shares during the period. AQR Capital Management LLC boosted its holdings in MannKind by 8.1% in the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 3,214 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in MannKind by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 3,374 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in MannKind by 6.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 3,861 shares in the last quarter. Hedge funds and other institutional investors 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.