MannKind Co. (NASDAQ:MNKD) Receives Average Recommendation of “Buy” from Analysts

MannKind Co. (NASDAQ:MNKD) has received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.21.

Several analysts recently issued reports on MNKD shares. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, Wells Fargo & Company started coverage on MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock.

MannKind Trading Up 1.0 %

Shares of MNKD opened at $5.20 on Friday. MannKind has a 12-month low of $3.97 and a 12-month high of $7.63. The firm has a market capitalization of $1.58 billion, a P/E ratio of 74.29 and a beta of 1.27. The firm has a 50-day moving average price of $5.67 and a 200 day moving average price of $6.27.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Equities research analysts predict that MannKind will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of MannKind by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock valued at $103,257,000 after buying an additional 420,334 shares during the period. State Street Corp raised its holdings in MannKind by 0.4% in the third quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock valued at $60,366,000 after acquiring an additional 40,338 shares in the last quarter. Geode Capital Management LLC lifted its stake in MannKind by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company’s stock worth $40,996,000 after acquiring an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of MannKind by 275.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock valued at $31,427,000 after purchasing an additional 3,587,484 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of MannKind by 23.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company’s stock valued at $27,450,000 after purchasing an additional 798,469 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

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.