MannKind (NASDAQ:MNKD) Upgraded to “Buy” at StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

A number of other research analysts have also commented on the stock. Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners began coverage on shares of MannKind in a research report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, Oppenheimer lifted their price target 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $8.67.

MannKind Stock Performance

Shares of MNKD traded down $0.12 during mid-day trading on Monday, reaching $7.22. 3,627,741 shares of the company’s stock traded hands, compared to its average volume of 2,616,781. The business’s 50-day moving average price is $6.56 and its 200-day moving average price is $5.60. The stock has a market capitalization of $1.99 billion, a P/E ratio of 103.14 and a beta of 1.30. MannKind has a 12 month low of $3.17 and a 12 month high of $7.63.

Insider Buying and Selling

In related news, insider Stuart A. Tross sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the completion of the transaction, the insider now owns 1,047,191 shares of the company’s stock, valued at approximately $6,628,719.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other MannKind news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the sale, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stuart A. Tross sold 80,000 shares of MannKind stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the sale, the insider now directly owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,161 shares of company stock valued at $1,632,795. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

A number of institutional investors have recently modified their holdings of MNKD. Meeder Asset Management Inc. acquired a new stake in shares of MannKind during the 2nd quarter valued at $55,000. Brookstone Capital Management acquired a new stake in shares of MannKind during the 2nd quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,816 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of MannKind in the 2nd quarter valued at $67,000. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of MannKind in the 3rd quarter valued at $93,000. 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.