MannKind (NASDAQ:MNKD) Raised to Strong-Buy at Leerink Partnrs

MannKind (NASDAQ:MNKD) was upgraded by Leerink Partnrs to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for MannKind’s Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.04 EPS and Q4 2025 earnings at $0.04 EPS.

A number of other brokerages also recently issued reports on MNKD. Oppenheimer increased their price target on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Leerink Partners began coverage on MannKind in a report on Monday. They set an “outperform” rating and a $8.00 target price on the stock. Finally, Rodman & Renshaw assumed coverage on MannKind in a research note on Thursday, June 13th. They issued a “buy” rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.67.

MannKind Stock Performance

Shares of MannKind stock opened at $6.02 on Monday. The firm has a 50-day moving average of $5.58 and a 200-day moving average of $4.92. MannKind has a 52-week low of $3.17 and a 52-week high of $6.44. The stock has a market cap of $1.66 billion, a PE ratio of 200.73 and a beta of 1.32.

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

Insider Activity

In other news, EVP Steven B. Binder sold 5,055 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.94, for a total value of $30,026.70. Following the completion of the transaction, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the sale, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Castagna sold 85,106 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $6.30, for a total value of $536,167.80. Following the completion of the transaction, the chief executive officer now directly owns 2,294,836 shares of the company’s stock, valued at approximately $14,457,466.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,997 shares of company stock worth $1,245,912. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On MannKind

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in MannKind by 189.8% during the 2nd quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after buying an additional 3,107,598 shares during the period. Parkman Healthcare Partners LLC lifted its stake in shares of MannKind by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 2,498,624 shares of the biopharmaceutical company’s stock worth $9,095,000 after acquiring an additional 429,677 shares during the period. TSP Capital Management Group LLC boosted its holdings in MannKind by 196.0% in the second quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after acquiring an additional 1,583,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MannKind by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,066,844 shares of the biopharmaceutical company’s stock valued at $7,523,000 after purchasing an additional 30,433 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in 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 last quarter. 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.