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

MannKind (NASDAQ:MNKD) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities research analysts have also commented on the stock. Oppenheimer boosted their price target on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Leerink Partners assumed coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Finally, Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MannKind currently has an average rating of “Buy” and an average target price of $8.67.

MannKind Stock Up 2.6 %

NASDAQ:MNKD opened at $6.78 on Friday. MannKind has a 52 week low of $3.17 and a 52 week high of $7.63. The stock’s 50-day moving average price is $6.71 and its 200-day moving average price is $5.83. The stock has a market capitalization of $1.87 billion, a PE ratio of 96.86 and a beta of 1.30.

Insider Activity at MannKind

In other news, Director Steven B. Binder sold 67,539 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.76, for a total transaction of $456,563.64. Following the transaction, the director now owns 1,075,026 shares of the company’s stock, valued at approximately $7,267,175.76. The trade was a 5.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stuart A. Tross sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total transaction of $156,500.00. Following the sale, the insider now owns 1,022,191 shares of the company’s stock, valued at approximately $6,398,915.66. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,075 shares of company stock valued at $1,482,087. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On MannKind

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in MannKind by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 172,054 shares of the biopharmaceutical company’s stock valued at $780,000 after acquiring an additional 9,410 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of MannKind by 4.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock worth $11,411,000 after purchasing an additional 91,924 shares during the period. Brookstone Capital Management acquired a new stake in shares of MannKind during the 2nd quarter worth about $61,000. Hennion & Walsh Asset Management Inc. increased its position in shares of MannKind by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company’s stock worth $1,312,000 after purchasing an additional 15,423 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in MannKind by 82.5% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 176,998 shares of the biopharmaceutical company’s stock valued at $924,000 after buying an additional 80,000 shares during the period. 49.55% of the stock is currently owned by institutional investors and hedge funds.

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.