MannKind VP Sells $189,582 in Stock (MNKD)

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MannKind (NASDAQ:MNKD) VP Diane Palumbo unloaded 17,902 shares of the company’s stock on the open market in a transaction dated Monday, June 16th. The stock was sold at an average price of $10.59, for a total transaction of $189,582.18. Following the completion of the transaction, the vice president now directly owns 140,956 shares in the company, valued at approximately $1,492,724. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at RBC Capital initiated coverage on shares of MannKind in a research note on Thursday, June 12th. They set an “outperform” rating and a $16.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, May 14th. They now have a $7.00 price target on the stock. Finally, analysts at Piper Jaffray upgraded shares of MannKind from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 14th. They now have a $6.50 price target on the stock, up previously from $2.00. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.79.

MannKind (NASDAQ:MNKD) traded down 0.47% on Tuesday, hitting $10.60. The stock had a trading volume of 6,577,183 shares. MannKind has a 52 week low of $3.80 and a 52 week high of $11.11. The stock’s 50-day moving average is $8.1 and its 200-day moving average is $6.32. The company’s market cap is $4.006 billion.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, analysts predict that MannKind will post $-0.40 earnings per share for the current fiscal year.

MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.

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