MannKind (NASDAQ:MNKD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a research note released on Wednesday.

A number of other research analysts also recently commented on the company. Wedbush assumed coverage on MannKind in a research note on Monday, February 10th. They issued an “outperform” rating and a $11.00 target price on the stock. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Trading Up 2.1 %

Shares of MNKD stock opened at $5.34 on Wednesday. MannKind has a 1-year low of $3.97 and a 1-year high of $7.63. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 76.29 and a beta of 1.28. The stock’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $6.27.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. On average, sell-side analysts predict that MannKind will post 0.1 EPS for the current year.

Institutional Trading of MannKind

A number of institutional investors and hedge funds have recently made changes to their positions in MNKD. GF Fund Management CO. LTD. acquired a new stake in shares of MannKind in the fourth quarter worth about $37,000. Jones Financial Companies Lllp lifted its position in shares of MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 6,392 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,816 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of MannKind during the 4th quarter worth about $65,000. Finally, Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind during the 4th quarter worth about $66,000. Institutional investors and hedge funds 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.