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

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

MNKD has been the topic of a number of other reports. Oppenheimer raised 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. Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Leerink Partners began coverage on shares of MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MannKind currently has an average rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Performance

NASDAQ:MNKD traded down $0.12 during mid-day trading on Monday, reaching $7.22. 3,627,741 shares of the company’s stock were exchanged, compared to its average volume of 2,616,781. MannKind has a one year low of $3.17 and a one year high of $7.63. The firm has a market capitalization of $1.99 billion, a PE ratio of 103.14 and a beta of 1.30. The business’s fifty day simple moving average is $6.56 and its two-hundred day simple moving average is $5.60.

Insider Buying and Selling at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the firm’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 transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Steven B. Binder sold 5,055 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total value of $30,026.70. Following the sale, the executive vice president now directly owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. 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. Also, insider Stuart A. Tross sold 55,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $7,099,181.94. The trade was a 0.00 % decrease in their ownership of the stock. 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 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MannKind

A number of hedge funds have recently made changes to their positions in MNKD. Meeder Asset Management Inc. acquired a new stake in shares of MannKind in the 2nd quarter valued at approximately $55,000. Brookstone Capital Management acquired a new stake in shares of MannKind in the 2nd quarter valued at approximately $61,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $62,000 after purchasing an additional 1,816 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of MannKind in the 2nd quarter valued at approximately $67,000. Finally, Foundations Investment Advisors LLC acquired a new stake in MannKind during the 3rd quarter worth approximately $93,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

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.