MannKind (NASDAQ:MNKD) Upgraded by StockNews.com to Buy Rating

MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

A number of other analysts have also recently issued reports on the company. Leerink Partners assumed coverage on MannKind in a research report on Monday, September 9th. They issued an "outperform" rating and a $8.00 price objective for the company. Oppenheimer raised their price target on MannKind from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Finally, Leerink Partnrs upgraded shares of MannKind to a "strong-buy" rating in a report on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $8.67.

MannKind Stock Up 2.6 %

Shares of MNKD stock traded up $0.17 on Friday, reaching $6.78. The stock had a trading volume of 1,852,157 shares, compared to its average volume of 2,642,885. MannKind has a 12 month low of $3.17 and a 12 month high of $7.63. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 94.43 and a beta of 1.30. The firm's 50-day moving average is $6.71 and its two-hundred day moving average is $5.81.

Insider Transactions at MannKind

In related news, Director Steven B. Binder sold 67,536 shares of the business'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 value of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stuart A. Tross sold 55,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total value of $403,700.00. Following the sale, the insider now directly owns 967,191 shares in the company, valued at $7,099,181.94. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,075 shares of company stock valued at $1,482,087. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Franklin Resources Inc. increased its holdings in MannKind by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after buying an additional 4,603 shares during the period. Geode Capital Management LLC raised its position in MannKind by 0.4% during the third quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company's stock valued at $39,880,000 after purchasing an additional 24,031 shares in the last quarter. Barclays PLC raised its position in MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after purchasing an additional 338,121 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in MannKind during the third quarter worth $413,000. Finally, XTX Topco Ltd boosted its holdings in shares of MannKind by 104.4% in the 3rd quarter. XTX Topco Ltd now owns 45,248 shares of the biopharmaceutical company's stock valued at $285,000 after purchasing an additional 23,111 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.

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.