MannKind Co. (NASDAQ:MNKD) Insider Sells $156,500.00 in Stock

MannKind Co. (NASDAQ:MNKD) insider Stuart A. Tross sold 25,000 shares of MannKind 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 $6,398,915.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MannKind Price Performance

Shares of NASDAQ:MNKD opened at $6.09 on Thursday. The company has a 50 day moving average of $5.51 and a 200-day moving average of $4.85. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 203.00 and a beta of 1.32. MannKind Co. has a one year low of $3.17 and a one year high of $6.44.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $72.39 million during the quarter, compared to the consensus estimate of $64.81 million. MannKind had a net margin of 4.73% and a negative return on equity of 11.97%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) EPS. Equities research analysts anticipate that MannKind Co. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On MannKind

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of MannKind by 8.1% in the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 3,214 shares during the period. The Manufacturers Life Insurance Company raised its stake in MannKind by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock worth $529,000 after buying an additional 3,374 shares during the period. Commonwealth Equity Services LLC grew its position in MannKind by 6.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 3,861 shares during the period. Mission Wealth Management LP increased its position in shares of MannKind by 18.2% during the first quarter. Mission Wealth Management LP now owns 26,650 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 4,100 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of MannKind by 9.0% in the first quarter. ProShare Advisors LLC now owns 65,811 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 5,416 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MNKD. Oppenheimer increased their price objective on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Rodman & Renshaw assumed coverage on MannKind in a research report on Thursday, June 13th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $6.50 price target on shares of MannKind in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

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.