MannKind (NASDAQ:MNKD) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw assumed coverage on shares of MannKind (NASDAQ:MNKD) in a research report report published on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $8.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on MNKD. Cantor Fitzgerald restated an overweight rating and issued a $6.50 price objective on shares of MannKind in a report on Thursday, May 9th. Wedbush restated an outperform rating and issued a $10.00 price objective on shares of MannKind in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MannKind currently has a consensus rating of Moderate Buy and an average price target of $8.00.

MannKind Trading Down 4.8 %

NASDAQ:MNKD opened at $4.80 on Thursday. MannKind has a twelve month low of $3.17 and a twelve month high of $5.75. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 160.00 and a beta of 1.27. The stock has a fifty day simple moving average of $4.46 and a 200-day simple moving average of $4.09.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. MannKind had a negative return on equity of 3.35% and a net margin of 3.78%. The business had revenue of $66.26 million during the quarter, compared to the consensus estimate of $60.55 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. As a group, equities research analysts predict that MannKind will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at MannKind

In other MannKind news, EVP David Thomson sold 23,537 shares of MannKind stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $4.66, for a total value of $109,682.42. Following the transaction, the executive vice president now owns 873,616 shares in the company, valued at $4,071,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On MannKind

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNKD. 9258 Wealth Management LLC purchased a new position in MannKind in the first quarter valued at about $51,000. AJOVista LLC purchased a new stake in shares of MannKind during the fourth quarter worth about $71,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of MannKind during the third quarter worth about $106,000. EntryPoint Capital LLC grew its stake in shares of MannKind by 60.9% during the first quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 9,008 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of MannKind during the fourth quarter worth about $112,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

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.