Analysts Set MannKind Co. (NASDAQ:MNKD) Price Target at $8.67

MannKind Co. (NASDAQ:MNKD - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.67.

Several equities research analysts recently commented on the company. Leerink Partners began coverage on MannKind in a report on Monday, September 9th. They issued an "outperform" rating and a $8.00 price target for the company. Leerink Partnrs upgraded MannKind to a "strong-buy" rating in a report on Monday, September 9th. Finally, Oppenheimer lifted 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.

Insider Transactions at MannKind

In other news, CEO Michael Castagna sold 85,106 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the sale, the chief executive officer now directly owns 2,294,836 shares in the company, valued at $14,457,466.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 owns 967,191 shares of the company's stock, valued at $7,099,181.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Castagna sold 85,106 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the transaction, the chief executive officer now directly owns 2,294,836 shares in the company, valued at $14,457,466.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,161 shares of company stock worth $1,632,795 in the last ninety days. Insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On MannKind

Several large investors have recently made changes to their positions in MNKD. Mirae Asset Global Investments Co. Ltd. boosted its holdings in MannKind by 22.3% during the third 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 in the last quarter. Meeder Asset Management Inc. acquired a new position in MannKind in the 2nd quarter worth approximately $55,000. Brookstone Capital Management acquired a new position in MannKind in the 2nd quarter worth approximately $61,000. Renaissance Technologies LLC acquired a new position in MannKind in the 2nd quarter worth approximately $67,000. Finally, Foundations Investment Advisors LLC acquired a new position in MannKind in the 3rd quarter worth approximately $93,000. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Price Performance

MNKD stock traded down $0.09 during mid-day trading on Monday, reaching $7.25. 1,718,423 shares of the company's stock were exchanged, compared to its average volume of 2,608,023. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 104.86 and a beta of 1.30. The stock's 50 day moving average is $6.54 and its 200 day moving average is $5.58. MannKind has a 12-month low of $3.17 and a 12-month high of $7.63.

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.