MannKind Co. (NASDAQ:MNKD) Given Consensus Recommendation of "Buy" by Brokerages

Shares of MannKind Co. (NASDAQ:MNKD - Get Free Report) have received a consensus rating of "Buy" from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.67.

A number of analysts recently commented on MNKD shares. Leerink Partnrs raised shares of MannKind to a "strong-buy" rating in a report on Monday, September 9th. StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a research report on Friday, November 29th. Leerink Partners started coverage on shares of MannKind in a research report on Monday, September 9th. They set an "outperform" rating and a $8.00 price target for the company. Finally, Oppenheimer increased their price objective 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.

MannKind Trading Up 1.0 %

Shares of MannKind stock traded up $0.07 on Friday, reaching $6.80. 1,899,315 shares of the stock were exchanged, compared to its average volume of 2,644,753. MannKind has a 1-year low of $3.17 and a 1-year high of $7.63. The business has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $5.89. The firm has a market capitalization of $1.88 billion, a PE ratio of 97.43 and a beta of 1.28.

Insider Transactions 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 completion of the transaction, the insider now directly owns 967,191 shares in the company, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven B. Binder sold 67,536 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total transaction of $465,323.04. Following the sale, the director now owns 1,075,026 shares of the company's stock, valued at approximately $7,406,929.14. This represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,075 shares of company stock worth $1,325,587. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MannKind

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. Meeder Asset Management Inc. bought a new position in MannKind during the second quarter worth $55,000. Brookstone Capital Management bought a new stake in MannKind during the 2nd quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 1,816 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of MannKind in the 2nd quarter valued at approximately $67,000. Finally, Quantinno Capital Management LP acquired a new position in MannKind during the 3rd quarter worth approximately $85,000. Institutional investors own 49.55% of the company's stock.

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.