MannKind (NASDAQ:MNKD) Upgraded at StockNews.com

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

Several other analysts also recently weighed in on the company. Leerink Partners started coverage on MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price for the company. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Oppenheimer upped their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $8.67.

MannKind Price Performance

Shares of MNKD opened at $6.78 on Friday. MannKind has a 1-year low of $3.17 and a 1-year high of $7.63. The stock has a market cap of $1.87 billion, a PE ratio of 96.86 and a beta of 1.30. The firm has a fifty day moving average price of $6.71 and a 200 day moving average price of $5.84.

Insider Buying and Selling

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

Institutional Investors Weigh In On MannKind

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of MannKind by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 172,054 shares of the biopharmaceutical company’s stock valued at $780,000 after purchasing an additional 9,410 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of MannKind by 4.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock worth $11,411,000 after acquiring an additional 91,924 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of MannKind in the 2nd quarter worth approximately $61,000. Hennion & Walsh Asset Management Inc. increased its stake in MannKind by 6.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 15,423 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in MannKind by 82.5% during the second quarter. Aaron Wealth Advisors LLC now owns 176,998 shares of the biopharmaceutical company’s stock worth $924,000 after purchasing an additional 80,000 shares during the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

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.