Key Points
- Insider Stuart Tross sold 47,006 MannKind shares on January 8 at an average price of $6.33 for proceeds of about $297,548, trimming his stake by 4.55% to 985,007 shares (~$6.24M).
- MannKind beat expectations last quarter with $0.03 EPS vs. $0.01 consensus and revenue of $82.13 million, up 17.1% year‑over‑year, and reported a net margin of 9.32%.
- Analysts on average rate the stock a "Moderate Buy" with an average price target of $10.06, while MannKind's market cap is about $1.8 billion and the 52‑week high is $6.51.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) insider Stuart Tross sold 47,006 shares of MannKind stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $6.33, for a total value of $297,547.98. Following the sale, the insider owned 985,007 shares of the company's stock, valued at approximately $6,235,094.31. This trade represents a 4.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
MannKind Stock Performance
MNKD stock opened at $5.85 on Friday. The company has a market capitalization of $1.80 billion, a PE ratio of 58.50 and a beta of 0.81. MannKind Corporation has a one year low of $3.38 and a one year high of $6.51. The company's 50 day moving average price is $5.59 and its two-hundred day moving average price is $4.94.
MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The firm had revenue of $82.13 million for the quarter, compared to the consensus estimate of $80.47 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The company's quarterly revenue was up 17.1% on a year-over-year basis. On average, research analysts predict that MannKind Corporation will post 0.1 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MNKD. Zacks Research raised shares of MannKind from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Leerink Partners began coverage on MannKind in a research note on Thursday, November 13th. They issued an "outperform" rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MannKind in a research report on Wednesday, October 8th. Truist Financial set a $9.00 target price on MannKind in a report on Monday, November 24th. Finally, Wells Fargo & Company cut their target price on MannKind from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.06.
Get Our Latest Stock Report on MNKD
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Calamos Advisors LLC bought a new stake in shares of MannKind in the 3rd quarter valued at approximately $1,240,000. Los Angeles Capital Management LLC lifted its position in MannKind by 68.3% in the second quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company's stock worth $1,636,000 after buying an additional 177,440 shares during the last quarter. Geode Capital Management LLC boosted its stake in MannKind by 12.3% during the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company's stock worth $28,494,000 after buying an additional 831,478 shares during the period. 180 Wealth Advisors LLC increased its position in MannKind by 11.2% during the third quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company's stock valued at $15,424,000 after acquiring an additional 290,276 shares during the last quarter. Finally, TSP Capital Management Group LLC raised its stake in shares of MannKind by 7.2% in the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company's stock valued at $11,155,000 after acquiring an additional 201,225 shares during the period. 49.55% of the stock is owned by hedge funds and other institutional investors.
MannKind Company Profile
(
Get Free Report)
MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company's core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind's lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.
Afrezza received U.S.
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