MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder Sells 80,144 Shares of Stock

MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder sold 80,144 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total transaction of $375,875.36. Following the transaction, the director now owns 1,006,611 shares of the company’s stock, valued at $4,721,005.59. This represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MannKind Trading Down 0.2%

MNKD stock opened at $4.56 on Friday. MannKind Co. has a 12-month low of $4.34 and a 12-month high of $7.63. The business’s 50-day moving average is $4.86 and its 200 day moving average is $5.78. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 65.14 and a beta of 1.14.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, equities analysts forecast that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MNKD. Mizuho assumed coverage on MannKind in a research note on Thursday, April 10th. They issued an “outperform” rating and a $12.00 target price on the stock. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $10.00.

Hedge Funds Weigh In On MannKind

Several hedge funds and other institutional investors have recently modified their holdings of MNKD. Barclays PLC grew its stake in MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after acquiring an additional 338,121 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of MannKind by 358.6% in the fourth quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company’s stock valued at $1,411,000 after purchasing an additional 171,537 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in MannKind by 275.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock worth $31,427,000 after buying an additional 3,587,484 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MannKind by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company’s stock worth $14,597,000 after buying an additional 45,277 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of MannKind by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock worth $1,047,000 after acquiring an additional 4,603 shares during the last quarter. 49.55% of the stock is 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.